Central and Eastern Europe (CEE)

Russia's State Transport Leasing Company (GTLK) has set final pricing for its debut $500m five year bond at 5.95% area, having released guidance at 6.25% area earlier on Tuesday morning in London.

As fertiliser firm EuroChem refinances a five year old loan, the borrower will find that pricing and lenders in the Russian market are changing, according to two bankers.

Russia sold a 10.9% stake in Alrosa, the world’s leading diamond miner, via an accelerated bookbuild which began in the evening on July 6, announcing the pricing on Monday this week.

With the Republic of Macedonia on the road for the first euro-denominated bond from an emerging market issuer since Brexit and EM credit continuing to rally, bankers are expecting a strong few weeks pre-summer.

Three Indian state-owned oil companies have hit the loan market for fresh money to support their joint acquisition of oil fields in Russia. Several banks are keen to submit bids but the adverse impact from US sanctions on Russia could pose a challenge, writes Shruti Chaturvedi.

Bulgarian Energy Holding is planning a Eurobond and the note has been assigned an expected rating of BB- by Fitch.

Melrose Industries, the UK company that aims to buy, improve and sell underperforming industrial businesses, will conduct a heavily dilutive £1.655bn rights issue, cheering equity capital markets bankers who had feared months of weak activity, especially in the UK, after the shock of the Brexit referendum.

Russia's State Transport Leasing Company (GTLK) finishes the roadshow for its debut Eurobond early next week, setting it up to become the first new Russian quasi-sovereign issuer for six years, according to a lead manager.

Russian and Chinese authorities are working towards the establishment of a renminbi hub in Moscow, at a time when Russian banks are seeing growth in RMB-related business and the central bank has begun investing in the currency.

Far Eastern Shipping Company (Fesco) kicked off restructuring talks with advisors to its Eurobond holders on Tuesday and aims to complete the process before Christmas.

Indian state-owned oil companies Bharat Petroleum Corp, Indian Oil Corp and Oil India have sent out separate requests for proposals for borrowings totalling $1.9bn to finance their acquisition of a stake in an East Siberian oilfield.

Slovenian Sovereign Holdings (SSH), which manages Slovenian state assets, has postponed marketing for the IPO of Nova Ljubljanska banka, the country's largest bank, citing market turbulence surrounding the UK’s vote to leave the European Union.