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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Tuesday brought three block trades in Europe’s equity capital market. The European Bank for Reconstruction and Development sold its whole 5.1% stake in PKP Cargo, a Polish rail freight operator, for Z197m (€47m) via Goldman Sachs and Wood & Co.
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The timing of a debut syndicated loan for Met Group hung in the balance this week, with bankers ascribing even odds to the deal being signed by Friday.
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Two Russian corporates have been busy managing their liabilities. Severstal completed a buyback of its 2016 and 2017 bonds last week and Alliance Oil has filed a consent solicitation on its $350m 9.875% 2015s. -
The Republic of Bulgaria has said it is mandating Citigroup, HSBC, Société Générale and UniCredit as arrangers and dealers on its €8bn global medium term note programme, according to a release on the country’s Ministry of Finance website. The programme was signed on February 6.
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Russian Standard Bank finally secured investor consent to update its $350m 10.75% 2018 tier two capital notes this week, after a lengthy process that began in November. While the innovative deal could be used by other Russian banks to bolster their capital ratios, bankers say that few actually have the need to issue tier two debt.
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A rally in Russian debt has given an immediate peace payout from the ceasefire in Ukraine, which starts on Sunday. But Ukrainian bonds have failed to pick up despite the IMF agreeing to increase its lending to the war-torn country with $5.8bn of new money, write Virginia Furness and Dan Alderson.
