Central and Eastern Europe (CEE)

Republic of Poland laid its euro ghosts to rest on Wednesday with a €750m tap of its January 2036 bonds on what bankers called the best day for emerging market bonds so far this year.

Hungary landed a double milestone on Thursday as its first international bond in four years became the first dim sum bond since November 2015. And while the pricing of the deal has drawn criticism, it proved that RMB is a viable option for CEE sovereigns looking to diversify into Asian currencies.

Taghleef — Hungarian Eximbank

Hungarian oil and gas firm MOL Group is planning to refinance a five year credit facility and has also mandated banks for a euro-denominated bond, its first in the currency in four years.

Black Sea Trade and Development Bank (BSTDB) is meeting investors for what would be its first syndicated dollar benchmark trade.

Hungary opened books for a three year offshore renminbi bond on Thursday with initial price guidance set at 6.50%. The deal is not only the debut RMB offering from the Hungarian government, but also the first public dim sum bond since November 2015.

The European Investment Bank has announced its intentions to build a benchmark curve in Polish zloty, selling the first public trade in the currency from an SSA issuer.

Republic of Poland laid its euro ghosts to rest on Wednesday with a $750m tap of its January 2036 bonds on what bankers called the best day for emerging market bonds so far this year.

The Hungarian Export-Import Bank has asked banks to make proposals for a loan of up to $600m, according to a banker close to the deal. This will be the bank’s first syndicated loan in nine years.

Emerging markets investors are soon to be treated to the second Russian corporate of the year in dollars with Vimpelcom mandating banks this week.

Poland this week tackled head on the ghosts of bonds past and has reopened the ill-fated 2036 euro note it printed in January.

A year can go by without an IPO in Prague, but this week has brought two. The day after GE Money Bank set out to float, Energetický a průmyslový holding (EPH), the Czech coal, gas and power company, began investor education for its plan to list EP Infrastructure, its energy transmission and distribution business.