Central and Eastern Europe (CEE)
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Russia’s Far Eastern Shipping Company (Fesco) requires extra time before the release of its preliminary restructuring proposal to bondholders, it said on Monday. -
Bulgarian Energy Holdings (BEH) opted on Monday for a five year for its first Eurobond in three years. The deal could come as early as Tuesday, according to a lead manager.
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Oil India has extended the deadline for submission of bids for its request for proposals seeking a $650m loan with a $200m greenshoe, according to two bankers.
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Hungarian Eximbank is syndicating a $600m-equivalent loan with a tight margin, bankers said, after oil and gas firm MOL secured a tightly priced deal last month.
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Macedonia returned to the bond market on Tuesday to finally print a €450m seven year bond after a challenge to the legality of the issue forced a postponement of the deal when leads opened books on July 14.
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Balkan telecoms provider United Group on Tuesday sold a €150m tap to fund the purchase of smaller peer companies in the former Yugoslavia.
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The Republic of Macedonia delayed its Eurobond sale on Thursday after a political opponent to the government challenged the legality of the issue.
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State-owned Bulgarian Energy Holding will meet investors next week for its first Eurobond for three years. BEH has mandated JP Morgan and Banca Imi to arrange the meetings, which run from July 18-22.
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Two block trades by UniCredit this week, totalling €1.08bn, offered further confirmation that the equity capital market is functioning well, and that there is ample demand for good European stocks, including from US long-only investors.
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UniCredit’s new CEO, Jean-Pierre Mustier, has sent strong signals to the market this week that he will be determined about reshaping the bank, which by last week had lost 75% of its market value in the past year.
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Croatia’s Zagrebački Holding completed a buy-back of nearly half of its outstanding Eurobonds on Thursday.
