Central and Eastern Europe (CEE)

Alfa-Bank was on course to issue the first Basel III additional tier one trade from a Russian bank on Thursday. Despite wider rates market volatility, the deal’s execution was proceeding unaffected.

Russia’s Lukoil drew peak orders of $3.6bn for its new 10 year bond, sold on Wednesday, which allowed it to push pricing to at least 13bp inside its indicative curve. Asian demand for Russia’s premier private corporate also impressed bankers, suggesting that Russia’s capital markets reintegration is wide reaching.

Russia’s Domodedovo Airport will start meeting investors on Friday ahead of a planned five year dollar bond issue.

Credit Bank of Moscow looked set to test the limits of investor appetite for Russian bank paper on Thursday with the longest senior dollar deal from the jurisdiction since the start of the Ukraine crisis.

Shares in ConvaTec, the UK medical supplies manufacturer, traded below issue price throughout Wednesday and closed flat, a day after the firm completed the largest IPO on the London Stock Exchange since Worldpay floated for £2.4bn in October 2015.

Russia’s largest privately owned oil-company Lukoil opened books on its first bond in three years on Wednesday, a 10 year dollar benchmark offering around 100bp over the sovereign.

Slovenia was able to tighten pricing for a new 24 year euro benchmark on Wednesday morning after attracting more than €2.3bn of orders.

After a run of lacklustre Turkish bank trades, Kuveyt Turk printed on Tuesday a $500m sukuk that was nearly four times subscribed. But the success was not universal to this week's Turkish bank issuance as Sekerbank failed to haul its tier two bond over the line.

Turkish retail group Boyner has arranged $170m of loans from local and foreign banks. Most of the deal was supplied by international lenders, despite the country having being downgraded to junk this year.

Two more Turkish banks opened order books on dollar trades on Tuesday, following Isbank, Vakifbank and Turk Eximbank last week. Sekerbank and Kuyeyt Turk are out with a Basel III tier two and a sukuk respectively.

Russia’s largest privately owned oil company Lukoil is set to bring its first bond in three years on Wednesday. Demand for the top tier Russian corporate is expected to be strong and could drive pricing inside the borrower's indicative curve, according to rival bankers.

JP Morgan’s head of CEEMEA credit trading has left his job, according to market sources.