Central and Eastern Europe (CEE)

The Republic of Slovenia printed a €1.5bn 16 year bond on Thursday from a book of €1.75bn and achieved its aim of building out the longer part of its curve.

Slovenia has firmed price guidance for a euro 16 year benchmark to 147bp over mid-swaps, a level that syndicate officials away from the deal said represents a double digit new issue premium.

Russian Railways is offering to buy back up to €150m of its €1bn 3.374% 2021s.

The Russian loan market has brought its first dollar deal of the year with Siberian Coal Energy Company (SUEK) signing a long-awaited $1bn pre-export finance facility. The deal is its first syndicated loan since January 2014 and exceeds the size of any Russian loan of 2015.

Ukrainian Railways (UkrZaliznytsa) has successfully restructured its $500m Eurobonds due May 2018 and will extend the maturity by three years.

Romania priced euro benchmark taps of its 2025s and 2035s on Thursday evening in London at new issue premiums of 10bp and 16bp, respectively, according to a syndicate official on the deal.

Bahrain joined Poland this week in the dubious honour of being downgraded by Standard & Poor’s after the pricing of a new bond but before settlement.

Romania is offering a 20bp new issue premium on taps of its euro-denominated 2025 and 2035 bonds, according to a lead manager on the trade.

Russia has filed a lawsuit against Ukraine in the High Court in London, with regards to the default on $3bn of bonds at the end of last year.

European Union ministers decided on Monday to permanently lift most sanctions on Belarus. But international banks remain wary of leading the country back to the Eurobond market.

MHP, the Ukrainian poultry producer, is asking holders of its Eurobonds maturing in 2020 to accept an amendment to the terms of its bonds which would prevent a covenant breach.

Ukraine's ministry of finance has announced plans to raise $5bn in the international markets according to its recently published debt management plan.