Central and Eastern Europe (CEE)
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As expected, the loans for the leveraged buyout of Polish auction website Allegro are tightly priced, with tenors of six and seven years for less than 400bp. -
Gazprom has mandated Deutsche Bank, Gazprombank, UBS and VTB Capital to act as joint lead managers for a Swiss franc bond set to come to market later this month.
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Online consumer loan provider 4Finance plans to increase its euro denominated bonds as it closes its acquisition of unsecured loan specialist TBI Bank from TBIF, the Dutch financial services group.
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RussNeft, the Russian oil company controlled by its chairman Mikhail Gutseriev, is moving ahead with plans to float in Moscow this quarter.
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Potential lenders to the Z4.8bn loan for the leveraged buyout of Polish firm Allegro will meet in Warsaw on Thursday where the deal will be launched into general syndication.
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Ceská telekomunikacní infrastruktura (CETIN) added to the trickle of EM bonds expected before year end on Monday and met investors this week for a euro denominated bond. The BBB rated issuer is hoping to benefit from demand from both EM and high grade corporate accounts.
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In this new Monday round-up from GlobalRMB, we bring you a collection of market and regulatory developments from the weekend as well as provide a preview of upcoming events this week.
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The EM primary bond market took just one day to digest Donald Trump’s unexpected ascent to the US presidency before new issuance resumed with a Gazprom bond. But uncertainty about what Trump will actually do could lead to volatile markets, increasing the cost of any issuance.
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Croatian food and drinks maker Agrokor has refinanced €340m of loans from VTB Bank, marking the end of a €840m loan refinancing programme.
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The EM primary bond market took just one day to digest Donald Trump’s unexpected ascent to the US presidency before new issuance resumed with a Gazprom bond. That was far quicker than the seven days it took the market to reopen after the Brexit vote on June 23.
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Donald Trump’s shock success in the US presidential election in the early hours of Wednesday met staunch resistance as far as EM asset prices were concerned. But dealers apportioned this to technical factors underpinning the market and warned that the long term impacts of the poll result are yet to be seen. GlobalCapital dissects the impact on EM region by region.
