Central and Eastern Europe (CEE)

The recent stock market fall may help smooth talks with Ukraine’s creditors, according to an analyst in Kiev.

Ukrainian agriculture firms are reaping deals from the syndicated loan market with Kernel back for its third deal of the year and a $90m loan for grain and oilseed firm, Nibulon, in the market.

The Polish parliament’s new plan to solve the country’s Swiss franc mortgage problem could cost Polish banks $6.2bn this year, wiping out profits for 2015 and 2016, according to Institute of International Finance (IIF) research published this week.

The Polish parliament’s new plan to solve the country’s Swiss franc mortgage problem could cost Polish banks $6.2bn this year, wiping out profits for 2015 and 2016, according to Institute of International Finance (IIF) research published this week.

Ukrainian food producer Kernel has signed its second syndicated loan of the year, for $230m to support its grain export business.

In this round-up, China's cross border RMB trade settlement falls in July, Seoul plans to launch RMB/Won futures in October, Moscow Exchange sees growing CNY/Rouble spot and swaps turnover, China's central bank issued its yearly financial stability report, and the UK's foreign secretary said during a visit to China that London would keep supporting RMB internationalisation initiatives.

In the third systems failure in three months, derivatives trading on the primary Russian exchange Moskovskaya Birzha (MOEX) was halted for half an hour on Wednesday before service resumed.

Analysts expect Russian borrowers’ foreign currency debt redemptions to put pressure on the rouble, despite the central bank’s efforts to downplay the effect.

Gazprom’s bondholders have allowed it to modify the terms and conditions of its £500m 5.338% loan participation notes due 2020, the company announced on Thursday.

Ukraine’s sovereign debt restructuring, Argentinian primary elections and a potential Turkish coalition government are keeping debt bankers alert while the primary bond market takes its summer break.

Analysts expect Russian borrowers’ foreign currency debt redemptions to put pressure on the rouble, despite the central bank’s efforts to downplay the effect.

Russia’s Lukoil has signed a $440m syndicated loan with four commercial banks, as part of $1bn of loans backed by development banks.