Central and Eastern Europe (CEE)

Lenders are preparing the financing package for the $3.2bn leveraged buyout of Polish online retailer Allegro. A loan for the deal is likely to be mostly dollar denominated, bankers said.

Next week is likely to be one of the busiest in the fourth quarter in covered bonds, as a string of debut deals emerge, along with the first ever publicly syndicated euro benchmark from Poland.

Poland’s Bank Gospodarstwa Krajowego (BGK) is tapping the 10 year bond with which it made its debut earlier this year.

A flurry of follow-on equity sales this week, mostly block trades, showed that investors still want stock, sometimes at tight discounts, even while three IPOs had to be abandoned.

Russia plans to raise $7bn in the international markets next year as part of a three pillared approach to reduce its budget deficit, as sanctions and low oil prices continue to stunt its growth.

Eastern European telecoms operator RCS&RDS on Thursday printed a refinancing euro bond that was first planned in euros and Romanian leu, while it mulls a potential IPO.

Ojer Telekomunikasyon (Otas), the majority owner of Turk Telekom, failed to make a $290m payment on a $4.75bn loan which was signed in September 2013, according to a news report on Wednesday. But two bankers were quick to say that Otas's fate was not indicative of all Turkish borrowers.

Muted demand for Russian bank debt hit Promsvyazbank (PSB) as it struggled over the line on Wednesday with a deal, following compatriot Otkritie's trade last week. Worse still, access to longer term funding, which PSB says it needs, looks some way off.

Russia gave more details on Wednesday of its plans to privatise stakes in state assets, including Rosneft, VTB Bank and shipping company Sovcomflot.

Promsvyazbank (PSB) opened books on a three year senior deal on Wednesday, following hard on the heels of compatriot, Otkritie. But PSB wants more international investment than that seen in recent Russian deals, its CFO told GlobalCapital.

Three European socially responsible investment (SRI) funds have participated in a $22m loan, backed by the EBRD, to build Georgia’s first wind farm.

Polyus Gold, the largest gold producer in Russia, has picked three local banks and one international firm to arrange investor meetings for a dollar bond.