Central and Eastern Europe (CEE)
-
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. -
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.
-
Estonia returned to the capital markets on Wednesday after 18 years away, introducing itself to a new set of investors as an SSA borrower.
-
The Republic of Hungary won a €7.25bn order book on its debut in green bond markets on Tuesday, printing a €1.5bn trade.
-
Estonia’s LHV Pank sold its first covered bond on Tuesday, attracting very good demand for the sub-benchmark deal, which provided it with long term funding from new investors.
-
The Republic of Hungary made a swift return to bond markets on Tuesday, selling its debut green bond deal just over a month after a €2bn dual tranche trade.
-
Uralkali, the Russian potash fertiliser producer, signed a $665m pre-export facility (PXF) with a consortium of international banks, as lenders say that Russian borrowers seeking funding are finding pricing remains the main point of contention with lenders.
-
Poland’s mBank has announced a tender offer for a maximum of €400m of its bonds, as it seeks to manage its MREL requirements.
-
-
European emerging market names have bulked up deal flow during the Covid-19 crisis and The Republic of North Macedonia continued that trend on Wednesday with a six year euro benchmark deal.
-
The Republic of Estonia has mandated for a 10 year benchmark bond, as it prepares for its first foray into bond markets since 2002.
-
Ukrainian and IMF officials have come to a preliminary agreement to provide the country with $5bn of aid after president Volodymyr Zelensky signed much-anticipated banking legislation into law. Market watchers have now urged the country to come to the bond market before the situation has a chance to sour.
