Central and Eastern Europe (CEE)
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Agribusiness Kernel proved the right credit to bring Ukrainian corporates in from the cold on Tuesday. After a rough ride of corporate restructurings, the inaugural issuer was able to garner the confidence and trust of investors to print $500m. -
Polyus Gold is plotting a rapid return to the Eurobond market following its successful outing in October last year.
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Holders of newly nationalised PrivatBank’s Eurobonds are pushing back on the National Bank of Ukraine’s plans to bail-in the debt, but the government should not have to take on the liabilities of sophisticated lenders in event of a default. But it does need to be much clearer about its plans.
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General syndication has begun on loan facilities backing Mid Europa Partners’ acquisition of Romanian retail chain Profi Rom Food.
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Emerging markets investors had piled $1bn of orders into Kernel’s five year dollar bond by lunchtime on Tuesday. The deal is their first opportunity since 2013 to buy fresh debt from Ukraine.
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Russian Eurobond volumes will be higher in 2017 as corporate borrowers rush to take advantage of strong investor demand amid expectations that the US will soften its stance on sanctions towards Russia, say Russian bankers.
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Akbank is set to provide the loan market’s first gauge this year of appetite for Turkish risk, with the bank said to have opened talks with lenders about the first of its two annual refinancings.
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The Trump presidency begins without China being labelled a currency manipulator, RMB keeps strengthening against the dollar, and the State Administration of Foreign Exchange emphasizes stability over reform.
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Slovenian funding officials took advantage of the first sovereign bond market outing this year to reward loyal members of the country’s primary dealer group.
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Slovenia reopened the bond market for emerging European issuers in style on Tuesday, with a well-received dual tranche euro deal.
