Central and Eastern Europe (CEE)

A Z4.59bn ($1.2bn) block in Allegro, the Polish e-commerce company, met with strong demand from equity investors on Tuesday night, with investors eager to buy more of the stock which was listed to acclaim in Europe last year.

GV Gold, the Russian gold miner, has launched an IPO on the Moscow stock exchange with sources close to the deal saying that 2021 is an opportune time for the miner to go public.

Russian Railways issued a rouble bond on Thursday. Russian companies may steer away from the dollar market as discussions around fresh sanctions on Russia continue.

A $240m equivalent sale of shares in M.video the Russian electronics retailer, was warmly welcomed by investors this week and has more than doubled the freefloat of the company.

Rating: A3/A+/A-

Turkey's international bond market access is once again in question. Rising US Treasury yields have put affordable dollar funding beyond the sovereign for now, bankers believe, undoing the good done by a move back to orthodox monetary policy late last year, after months of inflation and a plunging lira. A rate hike next week may help restore issuance prospects, writes Mariam Meskin.

A flurry of Swiss franc issuance dusted the market this week, as domestic and foreign borrowers entered a more settled market.

The Russian IPO market has a strong pipeline of listings being prepared for execution over the rest of the year. However, getting deals done could grow much harder with the threat of fresh sanctions against the country from a new US president threatening to derail the market.

Mikhail Gutseriyev, the largest shareholder in M.video-Eldorado Group (M.video), the Russian e-commerce and electronics company, is seeking to sell 24.2m shares on the Moscow exchange in a secondary public offering. The firm says that the move should help improve the liquidity of the stock.

Latvia was set to sell a bond in euros on Wednesday, which market participants said was set to be priced very tightly.

Turkish lender Akbank is in the syndicated loan market with its debut ESG deal, according to sources. The bank has been able to tighten pricing on the refinancing, meaning that it has enough competitively priced funding for it not to need to come to the bond market.

Rosatom, the Russian nuclear power company, is using a $300m sustainability-linked loan for part of the financing of Akkuyu, the first nuclear power plant to be built in Turkey — a sign of how fast and far the concept of sustainability-linked finance is spreading.