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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Naftogaz did itself few favours this week with its farcical approach to repaying holders of its $1.6bn Eurobond. When Ukraine’s state owned oil and gas company missed its bond payment on September 30, it risked more than a few irate investors.
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Promsvyazbank continued to provide a glimpse of hope for Russian loans this week, with some banks looking to give feedback by close of business on Thursday to its request for proposals on a deal. But any optimism around the borrower was dampened by lengthening views on a timeline for the EU repealing Russian sanctions and quarterly figures showing a big hit to overall CEEMEA loan volumes.
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The European Bank for Reconstruction and Development has said it is stepping up its efforts in Ukraine and that the country will become its largest trade finance beneficiary by the end of the year.
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Ukrainian state-run oil and gas company Naftogaz has confirmed the repayment of its $1.6bn eurobond after failing to meet its September 30 deadline. While the delay did not come as a surprise to many, bondholders were left with sweaty palms on Wednesday and whispers of default did not do the country’s capital market standing any favours. -
Hungarian oil and gas company Mol has elicited a varied response among loans bankers after requesting proposals on a $500m-$1bn loan last week. But even those not looking to take part in the deal have agreed that Mol’s timing is good, given an absence of other deals in the region – with Russian borrowers notably absent.
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Yapı Kredi Bank has signed a $1.3bn-equivalent one year loan, refinancing its $1.19bn deal from September 2013.
