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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Russian Standard Bank is hoping to take a short cut to Basel III — using a consent solicitation to add write-down language to its old tier two debt. For investors worried about getting caught on the wrong side of the vote, RSB's proposal looks aggressive. But the function of bank capital is to protect the bank, not to simply reward investors without risk.
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Société Générale has appointed Jan Rekowski as head of equity capital markets in Poland, as it seeks to develop its brokerage activities on the Warsaw Stock Exchange.
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Promsvyazbank has repurchased just under 20% of its old style tier two 10.2% 2019s at market price. Analysts said this was a positive sign that the bank has liquidity and is comfortably capitalised.
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Metinvest has received bondholder consent to exchange its $500m 10.25% 2015s after a lengthy approval process – including one amendment to terms and a deadline extension – which began on October 21.
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Akbank’s German subsidiary, Akbank AG, will begin roadshowing its inaugural bond with investor meetings next week. But with few EM banks issuing from developed market subsidiaries, the price discovery process will be more difficult.
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Ülker Biscüvi, Finansbank and Garanti Bank have completed loans in the past week, adding to the busy fourth quarter run for Turkish borrowers.