Central and Eastern Europe (CEE)

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.

Equity-linked bond issuance, lagging behind demand in Europe, showed a burst of vigour on Thursday with the launch of three deals, including substantial convertibles for Vinci and Severstal that were both eagerly received.

Latvia became the first Baltic state to issue a 30 year bond as part of a €650m dual tranche transaction this week.

Adorabella Ltd, a vehicle controlled by billionaire Andrey Guryev and his family, has sold a 4.5% stake in PhosAgro, the Russian maker of phosphate-based fertilizers, for Rb14.8bn ($250m) via an accelerated bookbuild on Wednesday night that was covered in an hour.

Export Credit Bank of Turkey has followed Turkish peer Akbank into the loan market, launching the first of its semi-annual one year refinancings.

Severstal looks set to add to the growing surge of Russian supply with its plans, set out on Thursday, to meet investors ahead of a potential dollar bond.

Alfa-Bank offered up a rare rouble-denominated Eurobond on Thursday. Making it rarer still was that the issuer is not a state-owned entity and bankers said its progress would be a strong barometer for other privately owned borrowers who may wish to use the product.