Central and Eastern Europe (CEE)

Rustavi Azot released price guidance for its $180m five year non-call three notes and now expects to price the bond on Monday.

The Russian government has joined a growing group of sovereign CPI-linked bond issuers, and analysts expect the government to return for at least one more sale this year.

Rustavi Azot has released price guidance for its $180m five year non-call three notes at 11%-13% yield. The note is expected to be priced later this week.

Slovenia priced a €1.25bn 10 year transaction on Tuesday with only a single digit new issue premium, according to bookrunners. The thirst for duration should help encourage other European sovereigns.

CEEMEA is refusing to put its feet up for the summer. Slovenia has reopened European sovereign supply, Zambia is prepping a dollar benchmark and rarer names are offering old school emerging market yields in the double digits.

VTB's huge multi-tranche tender offer makes financial sense, but also demonstrates the pessimistic outlook for Russian growth at one of Russia’s biggest corporate lenders, despite this year’s rally in the country’s bonds.

Slovenia launched a 10 year euro benchmark on Tuesday, but decided against adding a 30 year tranche.

Gazprom is asking for consent to modify the terms and conditions of its £500m 5.338% loan participation notes due 2020.

Ak Bars Bank has mandated Credit Suisse and UBS to arrange a Eurobond. If the deal goes ahead, it will be the first new issue from Russia this year.

Slovenia’s development bank, SID banka, has picked banks for a potential euro transaction five years after its last benchmark issue.

VTB has launched a multi-tranche tender offer for dollar, Australian dollar and Swiss francs bonds.

Metalloinvest’s $750m loan was no picnic for lending banks — the Russian miner self-arranged the deal and pushed hard on pricing — but this tenacious deal will not encourage a run of Russian deals soon, according to bankers.