Central and Eastern Europe (CEE)

Russian Railways is still on track to be the country’s first borrower of 2017 to complete a deal in the syndicated loan market, with bankers expecting to wrap up documentation soon. But Siberian Coal Energy Company (SUEK) is leading a charge of big Russian pre-export finance facilities that look set to dwarf the unsecured market in the first half of the year.

Steel company Severstal, one of four Russian corporates rated above the sovereign, looked set to print below 4% on Thursday, tighter than guidance.

Turkey has made an opportunistic move to reopen its recent 10 year bond with a tap to raise an expected $1bn.

Agrokor, a Croatian retail, food and agriculture company, has enough funding to repay debt maturities this year despite a recently pulled loan syndication, according to Moody’s, but cash flow is low and addressing next year’s PIK notes will be critical to its rating.

MD Medical Group, the Russian private hospitals group that specialises in paediatric and maternity care, will consider a share sale on the London Stock Exchange to partly finance the opening of 10 new medical facilities across Russia over the next three years.

Russian Railways will meet investors in London next week ahead of a potential return to both the dollar and Eurorouble bond markets.

Shares in Rusal, the largest aluminium producer in Russia, closed 3.9% lower in Hong Kong on Tuesday after Onexim, an investment vehicle controlled by Mikhail Prokhorov, the billionaire owner of the Brooklyn Nets, sold 3.3% of his stake in the company for HK$1.8bn ($240m), through an accelerated bookbuild launched on Monday night.

Siberian Coal Energy Company (SUEK) is set to be the first in a run of Russian pre-export finance facilities, with bankers predicting as many as five big deals from borrowers in the first half of the year.

Syndication for a loan backing Mid Europa Partners’ acquisition of Romanian retail chain Profi Rom Food is gathering momentum, with as many as 11 banks said to be working through approvals for the deal.

Nomura has appointed two to its emerging markets sales team as it attempts to grow its business.

Metalloinvest, the Russian steel manufacturer, has extended the maturity of a revolving credit facility on better terms and boosted its size.

The Russian bond market revival continued this week as Alfa-Bank issued a rare eurorouble note and Severstal announced plans for a global roadshow.