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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Gazprom said on Tuesday that it might seek a listing in Hong Kong, in what is the latest tilt towards Asia from Russian companies hurt or worried by Western sanctions. The moves probably will not do much for funding issues, but developing relationships could be a prudent long-term strategy, said bankers. -
Romania and Lithuania priced euro-denominated bonds this week, prefunding for 2015. But emerging markets bankers said the lower European rates outlook could delay others planning issues in the currency. By contrast, dollar funding flows may be as strong as ever — despite the recent volatility as sovereigns try to lock in low rates before the market changes heart again on US growth outlook.
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Turkish bank Yapi Kredi printed a $500m five year bond last week on a day when its curve widened by 25bp. Going ahead with the deal seemed self-defeating to many, but GlobalCapital believes Yapi Kredi behaved honourably, and investors should reward its honesty in future deals.
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Russia’s Otkritie Financial Corp Bank (formerly Nomos Bank) is likely to achieve a one year extension of the $240m loan it signed last year, say bankers, and has a “very committed” group of lenders to do the deal.
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Lithuania printed its €1bn 12 year bond on Wednesday with 0bp-5bp new issue premium, according to a syndicate official on the trade, having built a book of €3.65bn for the bond.
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Türkiye Iş Bankasi has tightened price guidance to 340bp area over mid-swaps on a 5.5 year dollar benchmark bond, bringing the third Turkish financial institution bond in a fortnight — after Yapi Kredi and TSKB — and offering around a 10bp new issue premium.
