Central and Eastern Europe (CEE)

Latvia is on course to become the first Baltic state to tap the 30 year maturity after emerging with pricing on a dual tranche euro deal.

Russian aluminium producer Rusal has registered a prospectus on the Shanghai Stock Exchange for a Rmb10bn ($1.5bn) seven year Panda bond programme, the company said on Wednesday.

Detsky Mir, the Russian toy retailer, this week priced its Rb18.4bn ($311m) Moscow IPO, the first IPO of significant size to be completed this year in EMEA.

Emerging market bankers are busy on the road as mandates start to ramp up but this week all eyes will be on Nigeria, which wraps up investor meetings on Wednesday.

The IPO market in EMEA is enjoying mixed fortunes, with the successful completion of the largest flotation in Russia since 2014 and the withdrawal of the first German IPO of the year late on Tuesday due to a lack of demand at an acceptable price.

Two Russian corporate deals in as many weeks have been stuffed down investors’ throats. Both were deemed tight, but Rusal, the first, sold off and is yet to recover to par. Russian issuers are famously price-driven, and the deals prompted complaints — but market dynamics mean that tight pricing is here to stay.

UniCredit has named the bankers to fill a series of senior country posts in its financing and advisory business, which covers equity and debt origination, coverage and M&A.

Detsky Mir, the Russian toy retailer, has revised the price range for its Rb21.1bn ($350m) Moscow IPO to Rb85 to Rb90 a share, the bottom end of the initial Rb85 to Rb105 range.

Albaraka Turk received a boost to its capital after investors voted to update its old-style tier two sukuk as Fitch junked 18 Turkish banks on Friday.

In this round-up, CFETS sets its dollar fix nearly unchanged after a week-long break, several Japanese lenders get ready to gain access to the China interbank payment system, and RMB trade settlement in Hong Kong sees a sharp fall in 2016. Plus a recap of our coverage.

Loan bankers are demanding clarity on the true ownership of the 19.5% stake in Rosneft privatised at the end of last year, as Intesa Sanpaolo prepares to syndicate the €5.2bn loan it has provided to back the deal, write Dan Alderson and Jon Hay.

Siberian Coal Energy Company (SUEK) is set to test demand among banks for lending to Russia and their willingness to deal with the coal industry, given many lenders have rules prohibiting further investments in the sector.