Central and Eastern Europe (CEE)
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The pent-up demand from equity owners to sell down blocks of shares was evident again on Thursday evening, as two deals were launched, after the Euro Stoxx 50 had managed to rise 0.3% on the day. -
The arid landscape for equity block trades so far this year in EMEA was brightened on Wednesday by two evening sales, both with a Russian flavour and involving elite clients.
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The shake-up in world economic affairs produced by the plunging oil price threw up a new result this week, as news emerged that Russia’s president Vladimir Putin wants to push forward privatisation of some of the largest state companies.
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Metinvest has swerved a default of its Eurobond due January 31 after bondholders voted to approve a waiver which will enable the issuer to restructure its debt without triggering a cross-default clause.
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Brunswick Rail has drawn on a tranche of a Rb1.6bn (€20.5bn) two year loan from Alfa Leasing which pays interest of 16%, as tough operating conditions and a weakened currency weigh on its business.
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Budapest Bank, the bank that the Hungarian state bought from GE Capital last year, would be ready for an initial public offering if its owner chose to float it, the bank’s CEO said on Monday.
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After almost five years, Hong Kong has recognised Russia as an accepted jurisdiction for issuers looking to list in the city. But whether the ties would be a game-changer for Asian equity capital markets is a big question, writes Philippe Espinasse.
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Igor Knyazev will be taking over the role of group treasury chief at Alfa Bank in Russia when Michael Lawrence retires in June.
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Emerging market bankers are saying that greater scrutiny may now need to be paid to the ratings calendar when printing bonds after Standard & Poor’s downgrade of Poland on Friday prompted one of the worst sell-offs of an EM new issue in recent memory.
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Poland’s sovereign bond spreads are in turmoil, after a shock downgrade by Standard & Poor’s (S&P) late last week. The move follows a sharp drop in its political risk score in the latest Euromoney Country Risk (ECR) survey.
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Hungary may add more banks to the mandate for its potential dim sum bonds, said Andras Rez, deputy chief executive officer at the government debt management agency (AKK) in Hungary.
