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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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Segezha, the Russian paper and pulp company, has completed its IPO on the Moscow exchange. The conclusion of the listing was a relief for the company, given fears that it could have been derailed by political tensions between Russia and the US.
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Standard Profil, the auto supplier which makes sealing for cars, was in the bond market on Tuesday looking to sell €275m of five year notes.
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A wave of Russian equity capital markets activity has broken this week, taking advantage of a rise in optimism that geopolitical tensions between Russia and the US are decreasing.
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UzAuto Motors, an auto maker owned by the Uzbek state, entered the dollar bond market on Tuesday for its debut deal.
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Pepco, the retail conglomerate that owns Poundland, is seeking to list in Warsaw through an initial public offering.
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Ukraine entered the bond market on Monday seeking dollar funding at a time when it faces a number of problems from heightened military tensions with Russia to uncertainty over its relationship with the IMF.