Central and Eastern Europe (CEE)
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◆ Unsecured issuance to resume from Wednesday ◆ Infrequent and rare issuers fill pipeline ◆ Pre-funding national champions may compete -
EM pipeline keeps flowing in face of US Treasury volatility
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CEE issuers are having to offer more due to lower liquidity than developed market peers
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Leads were looking at mBank's €750m trade last week as a price point
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First trip to the dollar market for nearly a decade
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Investors are keen for new issues, but they will be more selective than earlier in the year
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Česká spořitelna's successful trade last week will help other CEE bank issuers
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At least four CEE banks are preparing new bond issuance in the next few weeks
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Investors like the spread the Czech bank offers to similarly rated peers in western Europe
