Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
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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Even as Ukraine called off a ceasefire and ordered troops to crack down on pro-Russia protests, Russia’s equity capital markets seemed to return further towards normality with a sale of $470m of the Moscow stock exchange. There is no contradiction between those two events and market participants should cheer the return of nuance.
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The Romanian state restitution fund completed a L213m ($66m) sale of shares in the country's state-owned power grid operator Transelectrica on Tuesday evening, with local investors joining select international funds to complete the latest in a run of Romanian deals.
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The Republic of Macedonia has picked banks for its third ever bond deal and starts investor meetings next week.
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Czech corporate Net4Gas has picked bookrunners for a debut euro deal and starts investor meetings next week. Bankers expect the CEE corporate market to keep them busy in the coming months.
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Credit Suisse returned to the Australian dollar market after a four year absence on Thursday, selling a benchmark deal through its Sydney subsidiary. Strong investor appetite, particularly for a fixed rate tranche, allowed the bank to sell its largest ever trade in the currency.
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Year to date CEEMEA sovereign bond volumes are at their highest ever, with the total sold so far already soaring past some analysts’ full year predictions. Issuance is less than $20bn off the record set in 2012, and with several CEE and African sovereign deals, including from Turkey, still expected 2014 could easily become the new benchmark for sovereign supply, said analysts.