Central and Eastern Europe (CEE)
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Hungarian Development Bank (MFB) printed on Tuesday a €300m 2.375% six year bond, in line with price guidance released earlier that day, bringing a fresh euro benchmark to the country. -
Renaissance Securities is buying back $39.9m of the outstanding $146m of Renaissance Credit’s 7.75% 2016 bonds.
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Latvia has named its banks to arrange a euro-denominated new issue and manage a concurrent tender offer for the country’s 2020s and 2021s.
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Russian fertiliser producer EuroChem has signed a €200m club loan through its European subsidiary to cut costs, but the deal still carries Russian risk, bankers say.
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The Hungarian Development Bank has mandated three banks for a global investor call in the hope of drumming up enough demand to print a euro-denominated Reg S bond.
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New Europe Property Investments (Nepi) successfully priced a euro debut deal more than a year after first approaching investors.
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Military tension with Turkey sent Russia’s credit default swap spread wider this week but Russia’s apparent rapprochement with the west has seen investors treat Russian bonds in a much brighter light.
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Holders of City of Kiev’s Eurobonds could reject restructuring proposals at a meeting in London on December 8, according to analysts in Ukraine.
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Hungary is planning a renminbi-denominated government bond in the hope of laying the foundation for eastern European entities to borrow from the RMB market and encourage related investment activity, its Ministry for National Economy said this week.
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Support from US fund managers helped Macedonia price a new sub-benchmark euro-denominated deal comfortably inside initial price thoughts on Tuesday despite rising geopolitical risk.
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A list of 27 Russian banks and corporates have set up the Analytical Credit Rating Agency, and staffed it with some of the biggest names in the Russian capital markets. But while Russia needs a domestic ratings agency more than ever, its biggest challenge will be establishing credibility.
