Central and Eastern Europe (CEE)
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Russian steel company TMK has launched a tender offer for its 2018s through Citi and JP Morgan. -
Romanian utility company CEZ Distribution has signed a Leu675m (€152m) EBRD-arranged financing which is the first long tenor syndicated loan in Romanian new lei that the development bank has arranged.
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VTB Bank intends to buy back $418.8m of dollar bonds and Sfr67m in Swiss franc bonds following the result of a tender offer that expired this week.
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Romania became the latest CEE name to demonstrate the renewed bid for duration this week, drawing praise for a 10 and 20 year dual tranche euro transaction. However, some debt bankers away from the deal felt the 20 year had come at a hefty spread.
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Lenta, the Russian supermarket group, completed a $275m sale of global depositary receipts on Tuesday night, in an accelerated bookbuild of both primary and secondary stock.
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Agrokor, the Croatian food and drinks producer and retailer, has secured a €200m club loan with four banks.
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Central eastern European sovereign supply is moving further out the credit curve, with Romania on Wednesday attempting its longest dated euro deal yet.
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State owned power company Hrvatska Elektroprivreda (Hep) rounded off a smooth refinancing exercise this week, with a seven year deal that crushed the concession it pays over the Croatian government.
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Croatian state-owned power company Hrvatska Electroprivreda (Hep) has bought back over 80% of its debut dollar deal, and on Monday morning opened books on a new transaction to fund the purchase.
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In this round-up, Moscow Exchange sees drop in RMB swap and spot trading in September, RMB denominated trade settlement reaches new record in Q3 2015, Taiwan RMB deposits see slight fall in September, HKEx plans launch of new RMB metal contracts, and BAML finds investor sentiment improved on China.
