Central and Eastern Europe (CEE)

Private capital in central and eastern Europe is gaining traction after a decade of diminished enthusiasm from international investors. Local firms continue to dominate the region's private equity and direct lending markets, but some international players are eyeing them again, while others remain cautious.

Turkey lender TSKB printed its $400m five year senior bond on Wednesday inside its own curve. The sale drew a $3.9bn book, allowing a big tightening from initial guidance to pricing. Following the clear success of the deal, other Turkish banks are expected to follow, starting with Isbank which was straight in with its own subordinated bond on Thursday.

Russian brokerage BCS Global Markets has appointed a senior banker from HSBC as head of capital markets and investment banking.

Turkey's primary equity capital markets opened for the first time since 2018 on Wednesday as an undisclosed group of shareholders set out to sell 1.9% of Akbank.

Emerging markets telecommunications firm Veon, formerly Vimpelcom, printed a $300m tap of its $700m 4% April 2025s on Wednesday from a book of more than $1bn and paying a new issue premium of only 5bp, according to a syndicate official on the tap.

Turkiye Sinai Kalkinma Bankasi (TSKB) has released price guidance on the first benchmark Turkish bank bond since March last year. Books had reached over $2.2bn by midday and the market has been told to expect a $400m deal.

Turkiye Sinai Kalkinma Bankasi (TSKB) is planning to print a five year senior unsecured dollar bond on Wednesday. A lead manager on the deal said that the size of the note is likely to be below benchmark because the bank has limited liquidity needs.

Attendees at the Euromoney Central and Eastern European Forum in Vienna on Tuesday overwhelmingly pointed to low growth as the main risk to the CEE region in 2020, bypassing volatile geopolitical and commodity risk.

Turkish lender Yapi Kredi ventured into the green bond market for the first time on Friday with a rare dollar private placement, its first since January 2016, according to Dealogic data.

Private Russian bank Credit Bank of Moscow announced a roadshow on Monday, mandating banks for the sale of a benchmark five year dollar deal.

Turkiye Sinai Kalkinma Bankasi (TSKB) has mandated for a five year senior unsecured dollar bond as investors breathed a sigh of relief over the calming of tensions between the US and Iran.

The Republic of Slovenia became the first CEEMEA issuer to print a bond this decade, quickly launching a €1.5bn deal from a book of €11.75bn on Tuesday.