Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
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The sovereign has finished international funding for 2026
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
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Emerging market loan bankers were thrown into confusion on Wednesday following the US and EU’s decision to widen sanctions on Russia, amid contrasting views on whether the European component extends to new syndicated and bank loans. The most immediate impact would be on VTB’s prospective $1.5bn deal, which was said to be close to the line last week but has since stalled, while some bankers believe sanctions fears alone could spell a broader shut out of Russian borrowers from both bonds and loans. -
Play, the Polish wireless telecoms firm, is looking to raise €415m through a payment-in-kind toggle bond.
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VTB Capital maintained that it will not be impacted by the latest round of EU and US sanctions with one source at the bank claiming that the restrictions only limit the raising of new financing by the investment bank's parent company, VTB group. But others were not so certain and VTB bonds widened another 40bp on Wednesday morning.
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Russian DCM desks are reeling from the impact of the EU and US’s latest sanctions but investors are weighing up opportunities in scarce issues and unsanctioned names as some bonds even rallied on Wednesday morning.
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The few Russian issuers that were considering a return to equity markets after the summer have likely had their plans derailed by the US decision to include VTB on its latest list of sanctions amid a raft of other targets on Tuesday night.
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The State Oil Fund of the Republic of Azerbaijan (Sofaz) has applied to the People’s Bank of China (PBoC) for indirect renminbi investment in China’s onshore market to diversify its current investment portfolio, Israfil Mammadov, deputy CEO of Sofaz, has told GlobalRMB.
