Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
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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Terrorism, a military coup attempt, and a sovereign downgrade have failed to deter dedicated EM investment in Turkey, but deteriorating growth prospects and increasing nationalism, which could further strain relations with Europe, may threaten staying power in the long run, say economists.
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EuroChem tightened pricing for its $500m bond by 45bp in what the issuer described as the lowest ever dollar coupon for a non-investment grade Russian borrower.
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Russia’s Promsvyazbank is preparing a roadshow for a dollar bond of three or 3.5 years, following Otkritie Bank’s trade earlier this week.
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Turkey may have survived the impact on the attempted coup and a ratings downgrade but investors are worried about the longer term impact of a weak growth outlook and rising sense of nationalism
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Kazakhstan is looking to lure foreign capital to offset the impact of falling commodity prices and low growth. The flotation of Air Astana for up to $1bn may attract investors who have steered clear of the central Asia economy
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Turkey’s Yapi Kredi has completed its loan refinancing, bringing in $1.1bn in dollars and euros, in a deal where the margins increased just last week after the bank was downgraded.