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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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Books topped $6bn for latest bond
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Lowest new issue premium from a CEE borrower paid since Ukraine invasion
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Swathe of other emerging market credits to follow
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Hungary also wants to make its green bonds a darker shade of green
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Emerging market corporate bonds have rallied, but investors cannot find paper to buy in illiquid market