Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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Uzbek issuance has fallen to near zero after a busy few years
Bookbuilding slower than normal due to the restart of war between the US and Iran
Market stress so far confined to consumer credit and SMEs across region
The sovereign deal came the day after Hungary's tight dual trancher
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Covered bonds issued by SR Boligkreditt and Vseobecna uverova banka (VUB) this week were well subscribed, reflecting the generous spreads they paid compared to deals by issuers from core Europe.
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The Republic of Belarus ditched euros on its return to bond markets on Wednesday, printing two dollar tranches on which it was able to ratchet pricing tighter.
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A Rb11bn ($157m) block trade in Detsky Mir, the Russian children’s retailer, won a big investor reception on Tuesday night. There are now hopes that there will be more Russian transactions in the weeks and months ahead.
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State-owned Hungarian Development Bank (HDB) on Wednesday launched a euro-denominated benchmark bond. The bond marks the third entry into the market by the Hungarian sovereign or one of its entities during the coronavirus pandemic.
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Caisse Francaise De Financement Local (Caffil) lost €700m of orders after deciding to price its €1bn 10 year covered bond flat to OATs on Tuesday. But in contrast Vseobecna uverova banka (VUB) was able to price comfortably inside fair value largely because its deal offered a substantial pick-up to other covered bonds.
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The Republic of Belarus is taking a second run at the new issue market after its first round of marketing ran into Covid-19.