Central and Eastern Europe (CEE)
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Czech Railways printed its €400m seven year bond on Wednesday attracting buyers looking for a pick-up over tightly trading western European corporate debt. -
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Ceské dráhy, the 100% state-owned Czech national railway operator, launched its €400m seven year bond on Wednesday after tightening price guidance twice.
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Hungary still plans to issue renminbi debt in Panda bond format as well as a euro-denominated note following its successful placement of a dim sum note last month, György Barcza, CEO of AKK, Hungary’s debt management office, told GlobalCapital.
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Slovenia took advantage of low euro funding costs this week to prudently manage its debt by swapping out of dollars and into euros.
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Investors in the IPO of Moneta Money Bank — the biggest in Emea so far this year — have made nearly a 10% return on their money, after the shares traded up for the fifth successive day on Thursday, despite a fall in profits.
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Central and eastern European sovereign bond issuers can more and more rely on rates investors to come into their bond deals. But many of these borrowers are still handled by investment banks’ emerging market teams. So when is an issuer SSA rather than EM?
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Slovenia opened up the long end of the curve on Wednesday with a double tap to raise an additional €1.25bn from a €2.3bn book.
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A successful listing of state-owned Hidroelectrica could serve as a catalyst for further sales of state-owned assets in Romania, investors believe.
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The Republic of Latvia sold its €650m 1.375% 20 year bond on Tuesday — a deal that attracted $2bn of orders.
