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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Kompania Weglowa became the fourth Polish high yield name to pull a debut eurobond issue in less than four months on Wednesday when it announced plans to postpone a planned five year dollar benchmark. -
Russian private bank Otkritie Financial Corp Bank (formerly Nomos Bank) has surprised the market by beating peer Promsvyazbank to sign a syndicated loan. In doing so, it becomes the first Russian bank to achieve a loan with international lenders since the EU and US imposed a deeper round of sanctions – specifically targeting loans to Russia – on September 12.
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Alfa Bank Russia opened books on a long awaited subordinated dollar deal on Wednesday, pushing on with its first new style tier two despite a sharp fall in the rouble’s value and an intensifying conflict in Ukraine. The deal comes less than a week after Gazprom priced the first international Russian benchmark since July. But Alfa has been planning its sale for months, and was not pulled to market by a pathfinding corporate bond, said bankers on the deal.
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Eurobond restructuring has followed bleak third quarter results from Ukrainian companies, as military conflict in the country intensifies. First Ukrainian International Bank (FUIB) is asking investors for permission to restructure Eurobonds maturing in December. The bank joins metals and mining holder Metinvest, which is trying to restructure a $500m deal that matures in 2015.
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Following an independent valuation, Malaysia-based stationery maker Pelikan International Corp has shrunk the size of a rights issue that it will use to fund a restructuring.
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Hopes for a big end to the year in dollar sukuk issuance have been triple-boosted this week, with Pakistan reviving its plans to come to market while Flydubai and Mumtalakat are set to begin roadshows on Thursday. A grand finale has been made possible – but it will need fast work.
