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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Isbank raised $500m with the 10th deal from a Turkish financial this year with a tidy though somewhat lacklustre trade. While EM bankers suggested it was evidence of some Turkish bank fatigue among investors, the leads said the trade was symptomatic of the weaker market backdrop.
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Belarus returned to the eurobond market for the first time in more than six years on Thursday, releasing initial price thoughts for a dual-tranche dollar deal.
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Isbank opened books on Thursday for the 10th deal from a Turkish financial this year, offering a higher than usual new issue premium in the process to account for softer market conditions. While the deal is expected to be well absorbed, for some on the buyside, the risks of an Isbank tier two are too much.
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GarantiBank International (GBI), a Dutch subsidiary of Turkiye Garanti Bankasi, has signed a $250m loan that was oversubscribed by 19 banks, according to a banker on the deal.
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Russia benefitted from a huge technical bid for its bond sale on Tuesday with demand approaching $6bn by 10am, as investors are desperate to pick up debt from the country.
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Turkey’s Isbank has hired banks to arrange an 11 year non-call six Basel III compliant tier two trade, continuing a spate of riskier debt issuance from Turkey’s banks this year.