Central and Eastern Europe (CEE)
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The Single Resolution Board is asking for new data from banks on their key metrics as of the end of June, with an eye to using the information to tweak their minimum requirements for own funds and eligible liabilities for 2020. -
Slovakia's Vseobecna uverova banka (VUB) will offer covered bond investors a rare chance to buy bonds with a considerable pick-up to core European deals, having mandated leads for a €500m five year deal rated Aa2 that is expected to be launched on Tuesday, subject to market conditions which have recently deteriorated.
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Despite a staggering drop in emerging market syndicated lending during the coronavirus pandemic, Russian borrowers are not letting wider margins put them off. With a number of deals in the pipeline, the market is uncharacteristically raring to go.
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Ukraine has finally accessed International Monetary Fund support, as the country won access to a $5bn stand-by arrangement this week, but more long running negotiations for an extended fund facility (EFF) are on hold for now.
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Spain’s Ferrovial has sold a Z255m ($65m) chunk of its majority stake in Budimex, the Polish infrastructure construction company, via an accelerated bookbuild.
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The Republic of Albania won a €3bn book for its bond market return on Tuesday, whittling down pricing to a yield of 3.625% for its seven-year deal.
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Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark and bid-yields from the close of business on Monday, June 8. The source for secondary trading levels is ICE Data Services.
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The Republic of Albania returned to the euro bond markets on Tuesday after more than a year and a half away, seeking a seven year deal.
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Veon, the emerging markets telecommunications firm, has mandated for a rouble bond issue, six months since its last trade, a hard currency offering.
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Slovakia will not be making use of the European Stability Mechanism’s pandemic crisis support lines, because of concerns that investors would look negatively on the decision.
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Bondholders in the now infamous EA Partners notes received more bad news this week when Air Serbia, one of the lenders from the special purpose vehicles (SPVs) warned that it could default on its obligations.
