Central and Eastern Europe (CEE)

An evolution is happening in emerging market issuers’ use of yen funding. For many years, many of them have only been able to issue Samurai bonds by using JBIC’s GATE (Guarantee and Acquisition toward Tokyo market Enhancement) programme, but steadily more of them are stepping up to standalone issuance. At the same time, benchmark borrowers are bringing along less established issuers from the same countries in their wake

Polish banks showed their deep pockets by signing a record Z12.5bn (€3bn) loan for television company Cyfrowy Polsat this week. But banks could face a tax which might reduce their capital by a third.

The Ukrainian government has released the exchange offer for its sovereign Eurobonds, amended from what was previously announced.

Commodity trade finance for Russian firms remains strong, despite sanctions and falling commodity prices, according to bankers at the Loan Market Association's annual conference on Thursday.

The Ukrainian government has released the exchange offer for its sovereign Eurobonds, amended from what was previously announced.

Avangard, Ukraine’s largest egg producer, has appointed a Swiss bank as sole solicitation agent for its planned Eurobond restructuring.

The International Swaps and Derivatives Association ruled on Wednesday that Ukraine has not triggered a repudiation/moratorium credit event following the country’s recent decision to freeze payments on debt.

Cyfrowy Polsat, the Polish television company, has signed a loan for Z12.5bn ($3.3bn) with 20 banks, which it claims is the largest ever corporate loan facility in zlotys.

The IMF’s Christine Lagarde has urged Ukraine’s creditors to vote in favour of restructuring resolutions at a series of meetings the Ukrainian government has scheduled for October.

Trading of derivatives on the Moscow Exchange was halted for two hours this week after systems failed.

Iron ore pellet producer Ferrexpo’s talks to reprofile pre-export finance (PXF) debt have taken on an added urgency, after a Ukrainian lender in which the firm held some $174m was declared insolvent.

Avangard, the Ukrainian agribusiness, announced last week that it intends to implement a restructuring proposal with three aims.