Central and Eastern Europe (CEE)
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Russian Railways saw strong demand from international investors for a new Eurorouble note on Monday, with Asian accounts taking an unprecedented one-third of allocations. -
Moody’s has downgraded its outlook for B3/B rated Croatian food retailer and manufacturer Agrokor to negative from stable as the company’s credit quality comes under siege.
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Russian Railways marked the end of the national holiday in its home market by emerging with pricing for a new seven year Eurorouble note on Monday.
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Yapi Kredi took advantage of pent-up demand for Turkish bank paper to hammer down pricing on the first Eurobond from the sector for more than four months this week.
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Three Central and Eastern European (CEE) issuers are lining up trades, as supply from the region begins to ramp up. Slovenia, the Slovak Republic and Polish corporate Energa SA all plan to bring euros in the near future.
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Details have emerged of the financing CVC will use to buy Polish retail chain Żabka Polska, its second takeover in the region.
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ONGC Videsh (OVL), the overseas investment arm of Indian state-owned oil company ONGC, is tapping the loan market for longer dated debt to replace a bridge raised by one of its subsidiaries.
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Russian Railways lived up to a reputation for aggressive pricing on Wednesday, printing a new seven year dollar benchmark comfortably inside its existing curve.
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Mid Europa Partner’s syndicated loan, which will finance its purchase of Romanian supermarket chain Profi Rom Food, is set to be finalised by the end of the week according to a banker on the deal.
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Yapi Kredi reopened the Turkish financial bond market on Tuesday, garnering a $1.2bn book that was sticky enough to allow the issuer to tighten pricing 37.5bp — good news for the $3.7bn worth of Turkish financial senior bonds that will need refinancing this year.
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This week has seen the reopening of sovereign bonds from the Gulf region and Turkish bank debt, with Bahrain and Yapi Kredi both printing successful trades on Tuesday.
