Central and Eastern Europe (CEE)

Bulgarian Energy Holding has picked lead banks for its €650m loan, after taking six months and being downgraded during the arranging process.

Ukraine poultry producer, MHP has finally secured bondholder approval to amend its $750m notes due 2020, though bankers close to the deal said they knew it would be "rejected the first time."

KOKS Finance and Dubai Holding are looking to buy back part or all of their dollar notes due 2016 and 2017, respectively.

Holders of $750m of Ukrainian poultry producer, MHP’s debt have refused to accept amendments to the bond which would prevent a covenant breach.

In this round-up: Hong Kong cross-border trade settlement fell again at the start of the year, RMB deposits were steady in Hong Kong but falling in Singapore, Brics New Development Bank will set up in Shanghai, and PBoC said a swap line with Bank of Russia had been activated. Plus, a recap of our top stories this week.

Russian gas company Gazprom has raised €2bn ($2.2bn) from Bank of China, marking its largest fundraising directly from a single financial institution and its first bilateral loan from a Chinese lender.

The State of Montenegro locked down €300m towards the refinancing of the €390m of Eurobonds it has maturing in April on Thursday, but was unable to crunch pricing tighter inside initial guidance released earlier in the day.

Montenegro has released initial price thoughts for a five year euro denominated bond at 6% area, offering around a 50bp new issue premium, according to a banker away from the deal.

Bodgan Klimaszewski is no longer deputy director of the public debt department. Instead, Robert Zima has been promoted into the job.

Steve Hellman, Credit Suisse’s chief executive officer for Russia and CIS, is leaving to pursue other opportunities outside the bank. The bank is promoting its regional private banking head to fill the seat.

Sergey Gorkov, deputy chairman of Sberbank’s executive board, is leaving the bank, and a new acting head of global markets and head of corporate business have been appointed.

Coal is about the most basic commodity. It has become deeply unfashionable in recent years, tarred as the worst culprit in global warming. The charge may be true, but the accusations are so vehement partly because promoters of other hydrocarbons — oil, gas, biofuels — want to disguise their own responsibility.