Central and Eastern Europe (CEE)

Multi-field cooperation and integration

Florin Cîțu, Romania’s finance minister, is in defiant mood as he speaks to GlobalMarkets from the campaign trail ahead of a busy election cycle. The previous day, September 22, parliament had voted to amend the budget to increase pensions by 40% — instead of the 14% increase that the National Liberal Party (PNL)-led government, which has a minority in parliament, had implemented.

Fears of another spike in coronavirus cases are dampening optimism that Central and Eastern European economies would charge out of recovery. But a strong starting position and the EU’s huge support packages mean the region is better placed than most

The Republic of Turkey hit screens on Tuesday with a dollar bond issue, which took some investors by surprise. Though Turkey may have had a rocky few months with credit downgrades and currency depreciation, the bond is expected to be received well by investors.

Three emerging market issuers in CEEMEA mandated for trades on Monday, as market insiders said issuers are scrambling to make the most of issuance opportunities before investors take their foot off the gas.

A former director in Garanti BBVA's funding department has moved to rival lender Akbank to oversee international funding.

The long-awaited Science-Based Targets standard for financial institutions has arrived. It is one of the most ambitious attempts so far to wrest the financial sector from its path towards climate destruction.

Hungarian oil and gas company Mol on Thursday raised a seven year bond in euros.

Equity capital markets bankers are heralding the success of emerging markets IPOs set to be priced in the coming days and weeks, including the flotations of Russia’s Sovcomflot, Lithuania’s Ignitis, Saudi Arabia’s BinDawood and Kazakhstan’s Kaspi.

Polish e-commerce firm Allegro has priced its historic IPO on the Warsaw Stock Exchange, the largest in its history, to become the most valuable listed Polish company. However, high demand for stock has meant that a substantial slice of investors in the IPO got no shares at all in allocations.

Two CEEMEA issuers, Egypt and Hungary's Mol, are in the market this week to raise funding. According to experts, issuers are eager to get their funding in before expected geopolitical and coronavirus-related volatility impacts markets.

Sovcomflot, the Russian state-owned shipping company, has launched its IPO on the Moscow stock exchange with domestic orders already in the book.