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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CEEMEA primary markets have finally become a victim of the summer heat but there’s no snoozing on the beach for syndicate bankers. Planning for the second half of the year has already started in earnest.
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A third Turkish bank has returned to the MTN market, joining Vakifbank and Yapi Kredi with a short dated private placement as prices approach the levels they held before the failed military coup on July 15. -
Standard & Poor’s upgraded Novolipetsk Steel (NLMK) and Severstal to one notch above the Russian sovereign rating at the end of last week, prompting a rally in their bonds as investment grade funds became able to buy the notes.
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Turkey on Friday managed to cling on to its investment grade status after Moody’s left its credit rating on hold.
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Export credit agency Turk Eximbank has signed a $750m 10 year loan from international lenders, having secured a €400m deal just last month.
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A pair of Turkish banks has returned to the MTN market after a 100bp rally in their secondary levels, marking the first bonds since the failed military coup in Turkey on July 15 and bringing hope that by September, public syndicated bonds may be back on the table.
