Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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Private placements are not unknown for CEE sovereigns, but this is the biggest for years
Market participants have highlighted drop in Uzbek bond volumes this year
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
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News of Otkritie’s bail-out has filled the buy-side with questions about the nature of the Centra Bank of Russia’s recovery plans sending Otkritie’s subordinated bonds yo-yoing between a cash price of 49 and low to mid 80s. -
Tajikistan has named two lead banks for its first ever bond, the proceeds of which will be used to partially fund a hydropower plant project.
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South African lenders, Investec and Standard Bank’s loans are due to sign this week, along with United Biscuits' acquisition loan, which is expected to close tomorrow.
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Yields on subordinated bonds issued by Otkritie remained at over 40% on Tuesday after rumours of bail-out plans by the Russian Central Bank hit the market on Friday.
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Otkritie Bank this week offloaded a 19.85% stake in Cypriot RBC Bank in a move that analysts said was an attempt to ease liquidity concerns after what had been a volatile few weeks for the lender. But they dismissed concerns over the sector as being overblown, saying any problems were largely confined to Otkritie.
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Russian bank debt has fallen out of favour after events snowballed into fears that Central Bank of Russia is lining up to pull the plugs on Credit Bank of Moscow (CBM) and Otkritie.
