Deutsche Bank

Poland has released price guidance for its first international dollar bond since its tumultuous January euro print.

European stocks rallied on Wednesday morning, after the US Federal Reserve’s chairperson, Janet Yellen, struck a dovish note in a speech last night. ECM deal launches did not immediately follow, however.

The only spot of new bond activity in the CEEMEA market so far in this week was Poland’s first dollar deal of the year, but there was plenty of loans market activity in the region to keep bankers occupied.

The Government of Mongolia raised $500m from the international bond market on Tuesday, opting to pay up to compensate investors for its vulnerability to external shocks.

The owner of Forterra, the UK maker of masonry products, intends to sell at least a quarter of the firm’s stock in an all-secondary deal that could fetch about £200m.

Spreads on bank bonds have wound tighter this month on improved sentiment following more ECB stimulus, feeding greater optimism around banks' first quarter results.

The Government of Mongolia is out with a 144A/Reg S bond, more than two months after holding meetings with potential investors. Delayed by a series of negative macro factors, the sovereign is offering an attractive yield when compared with its outstanding notes.

Four lenders are close to being mandated for a $400m fundraising for Maybank, according to sources.

Two equity block trades or rapid sales were completed successfully in Europe on Monday night.

First quarter bank results will likely be miserable, but an ECB-inspired bounce-back could save the day in the second quarter for banks most exposed to euro-denominated bond issuance, according to research from Deutsche Bank’s equity team.

Latin America development bank Corporación Andina de Fomento (CAF) this week returned to the Australian dollar market with a dual tranche bond, its first outing in the format since August 2015.

After a barren year of sterling bond issuance from international borrowers, a dry patch that some thought would last until the Brexit referendum in June, an Australian company finally broke the silence on Wednesday.