Central and Eastern Europe (CEE)

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.

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.