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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Yildiz joined the glut of Turkish food companies looking for loans this week, as it eyed as much as £900m to back its £2.1bn acquisition of Jaffa Cake maker United Biscuits. The loan adds to Ülker Biscüvi and Yıldız subsidiary Ak Gıda, which were set to close conventional and Islamic deals this week.
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Gazprom’s $700m one year deal this week was brought to market with the best of intentions. The company wanted to re-open the international dollar bond market for other Russian issuers and felt that it was its duty to do so, being the only big state-owned borrower not subject to capital market sanctions.
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Gazprom’s dollar deal on Wednesday may have grabbed the attention of emerging markets bankers eager to see Russian borrowers back in bonds, especially as it was twice subscribed. But any hopes of a flurry of Russian comeback issuance were shot down by bankers away from the deal in London who said a number of factors dented the trade's credentials as a pathfinder for the energy giant's compatriot borrowers. -
Gazprom’s potentially market re-opening $700m one year bond has been twice subscribed. US investors have even been calling the company to complain about being scaled back in the allocation process on the Reg S/144A deal, signalling a u-turn in investor appetite for Russian risk.
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The European Bank for Reconstruction and Development (EBRD) is arranging an $80m syndicated loan to JSC Dariali Energy in Georgia to develop, build and operate a greenfield hydroelectric power plant.
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Gazprom is planning a one year dollar bond and has released price guidance at a yield of 4.75%-5%.
