Central and Eastern Europe (CEE)
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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.
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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.
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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.
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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.
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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.
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JP Morgan’s head of CEEMEA credit trading has left his job, according to market sources.
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Moody’s has assigned a provisional Baa1 rating to the mortgage backed covered bonds of Yapi ve Kredi Bankasi and the issuer has published its base prospectus, suggesting it could soon be ready to issue.
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