Central and Eastern Europe (CEE)

Novorossiysk Grain Products Plant, Russia’s largest grain export shipping terminal, has set the price range and opened the book for its IPO, in which it will join the first section of the Moscow Exchange.

CLS Group added the Hungarian forint to the list of currencies eligible for settlement. The group, which settles trillions of dollars in foreign exchange transactions a month, now settles payment instructions in 18 currencies.

Bankers are predicting a strong return of Russian bond issuance from non-sanctioned credits in 2016. But these issuers would be foolish to wait until next year when there is an issuance window open now.

Alfa Bank has mandated three banks for a senior dollar bond — only the second Russian financial institution bond this year — as the CEEMEA bond markets held stable after the terrorist attacks in Paris over the weekend.

Ukraine’s Privatbank has received approval from the High Court of England and Wales for a restructuring deal approved by holders of its subordinated Eurobonds.

In this round-up, Moscow Exchange sees fall in both spot and swap trading, South Korea deposits drop for sixth consecutive month, and the Swiss franc is now directly convertible with the onshore RMB. Plus, a recap of GlobalRMB’s top stories this week.

Bank of Georgia completed the IPO of its healthcare subsidiary on Monday, as it successfully priced the deal, although at a price much below what it had hoped for.

Russian miners Polymetal and Russian Copper Company (RCC) have dug up two commodity-backed loans which are likely the tail-end of a meagre performance from the Russian loan market this year.

The Romanian mortgage market is set for growth after local authorities amended its previously unusable covered bond law to bring it into line with the best standards in western Europe.

Goldman Sachs this week announced the closure of its dedicated BRIC (Brazil, Russia, China and India) fund after nearly 10 years. The move signalled the end of the BRIC era, as this year saw recessions plague Russia and Brazil while growth in China stalled.

Russian Copper Company has signed a $200m four year pre-export finance facility with European and Russian banks.

International syndicated lending to Russia has been in the deep freeze for the last 12 months, with only a handful of safe, commodity-backed loans arranged. The European Council will review its sanctions on Russia in a few weeks, but don’t expect the market to thaw.