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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Albaraka Turk has priced $350m of five year sukuk at 6.25%, after drawing around $750m of orders. The Turkish participation bank previously indicated the deal would be benchmark size – typically $500m for international bonds, although sukuk arrangers sometimes use the term to describe smaller offerings.
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Sberbank has released initial price thoughts in the mid-to high 200bp over mid-swaps area for a 5.5 year euro denominated bond, offering around a 10bp new issue premium at the tight end and 35bp at the wide according to an investor considering the deal. Tightening is expected before pricing later today. Books are over €1bn.
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Oil and petrol company PKN Orlen opened books on the second Polish corporate debut of the year on Monday, and found its €500m no-grow bond five times subscribed when it tightened to final guidance of 160bp-165bp over mid-swaps.
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Gazprombank Asset Management has hired Igor Kan as head of structured products portfolio management and trading.
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Turkish participation bank Albaraka Turk (rated BB by Standard & Poor’s) has given initial price thoughts of low 6% area on a five year benchmark dollar sukuk.
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Turkish conglomerate Doğuş Group looks set to become the first Turkish corporate borrower to issue a dollar sukuk, having applied to the country’s Capital Markets Board to issue up to $400m to foreign investors.