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Development bank's credit ratings suffered a blow after Russia's invasion of Ukraine
Books were nearly three times the issue size
◆ Higher rated Austrian lender offers more spread for similar senior preferred bond ◆ Big demand pushes deal inside fair value ◆ BCP still prints its tightest unsecured debt for more than five years
After a record 2024, Turkish corporate issuance slowed last year
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Bankers look for deals to restart market once interest rates have peaked
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The invasion of Ukraine showed almost nothing is off the cards in Putin's Russia
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Unlike Ukraine's other state-owned issuers, Naftogaz is yet to secure full relief from bondholders
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Investor confidence seems unaffected by Saturday’s aborted coup in Russia
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Investors still keen though deal was third CEE bank issue this week
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More pile in for euros following NLB's 'blowout' €500m print