Central and Eastern Europe (CEE)
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BGK had been unable to tighten pricing back on May new issue -
Other CEE issuers will take note but not read much into the outcome of BGK's deal
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The CDS auction for Russia will be held on September 12
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GC Asia View
News that toxic assets will be tradeable for a time and replacement corporate bonds are on the way could dent attempts to weaken the country’s financial system
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Meanwhile, auction for Russia CDS date narrowed
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Despite better markets, few expect issuance volumes to recover from lowest levels in years
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Borrower may not care whether its offer is successful, said one analyst
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Process for Ukraine expected to be far easier than for Russia
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Picking the right banks is key in a difficult primary market, particularly in CEE
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Investors are ready to put their piles of cash to work
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It is not possible to know what Ukraine will be able to offer, but it will not be much
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Ukraine sovereign comes through consent solicitation as investors also grant two state-owned issuers two years' relief from Eurobond payments
