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Poland's second tier two deal and Romania's debut sub debt may come this week
BCR deal marks a first from Romania
The book was no blowout, but UzAuto sealed tighter spreads than its debut
The company suffered little order attrition despite 'aggressive' spread tightening
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The bank has 'picked the right moment', said one investor
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Deal is the second largest syndicated loan for a CEEMEA sovereign in euros this year
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Plans for trades in niche currencies are on hold until 2026
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Hope Trump would end the war triggered a big rally earlier this year
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If Romania can tackle its deficit then government and state-owned issuer borrowing costs will fall
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Deal is first in format from an EM sovereign since 2023