Central and Eastern Europe (CEE)

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.

Russia plans to raise $7bn in the international markets next year and is working towards a radical overhaul of its capital markets to decrease pressure on the country’s strained banks, Sergei Storchak, deputy minister of finance, told GlobalCapital's sister publication Global Markets.

The vice-president of the New Development Bank, Paulo Nogueira Batista Junior, tells GlobalMarkets how his institution is lending on projects and issuing green bonds in line with the increasing concern with environmental issues

Terrorism, a military coup attempt, and a sovereign downgrade have failed to deter dedicated EM investment in Turkey, but deteriorating growth prospects and increasing nationalism, which could further strain relations with Europe, may threaten staying power in the long run, say economists.

EuroChem tightened pricing for its $500m bond by 45bp in what the issuer described as the lowest ever dollar coupon for a non-investment grade Russian borrower.

Russia’s Promsvyazbank is preparing a roadshow for a dollar bond of three or 3.5 years, following Otkritie Bank’s trade earlier this week.