Central and Eastern Europe (CEE)

Russian airline Aeroflot completed its Rb80bn ($1.05bn) capital raise on Monday, aimed at repairing its balance sheet by repaying debt, with the Russian state increasing its stake in the carrier.

Sands Capital Management, the US investment manager, sold a 1.6% stake in Russian internet services company Mail.Ru on Monday despite a torrid evening for international stock markets.

BCS Global Markets, the investment services division of Russia’s largest independent broker, has hired Vadim Kotov as the new chief operations officer for its investment banking business.

Analysts believe optimism over the IMF disbursing funds to Ukraine this year is unfounded, as the country is struggling to fulfil the conditions it has to meet to be granted the money.

Two EM bond issuers beat hasty retreats from the primary market this week. But despite the challenges the pair faced, bankers and investors believe the market is open for borrowers looking to pick up a bit of funding ahead of what is expected to be a tortuous US election. Lewis McLellan reports.

Ülker Bisküvi Sanayi scored an impressive $650m with a five year benchmark on Wednesday, surprising some investors with an unexpected increase to the size.

Emerging market IPOs have been one of the hottest themes in EMEA equity capital markets this year and issuance is set to continue as Canal+ Polska, the Polish television network owned by French TV service Canal+, launched its IPO on Thursday.

The National Bank of Ukraine has stripped deputy governor Kateryna Rozhkova of her responsibility for banking supervision. The move follows the NBU’s official reprimand of Rozhkova and a colleague over a media interview.

Ülker Bisküvi Sanayi, a Turkish biscuit manufacturer, is set to come to market for a benchmark bond on Thursday, attempting to print a deal in a market that the country’s sovereign wealth fund deemed too hostile to make its debut in.

Naftogaz of Ukraine elected to pull its long six year benchmark bond from the market on Monday, postponing it indefinitely.

Naftogaz announced on Monday that it was coming to market for a six year dollar benchmark — its first of the year. The initial price thoughts indicated a substantial cheapening since its last trip to the bond market in November 2019.

E-commerce listings have been been a high point of equity issuance during the second half of 2020, with the sector generating strong returns for investors. Most of the year’s listings have been completed, but banks are already working on deals from the sector for 2021.