Most recent/Bond comments/Ad
Most recent/Bond comments/Ad
Most recent
Takeover will increase the Hungarian bank's total assets by around 13%
Issuer has the country's longest tier two curve
The sovereign has finished international funding for 2026
Private placements are not unknown for CEE sovereigns, but this is the biggest for years
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Conflicting opinions between Shariah scholars and the lack of a consistent framework are among the biggest challenges remaining for Islamic finance, according to the chairman and chief executive officer of Borsa Istanbul, Ibrahim Turhan.
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Throughout the last few months of the Crimea crisis, Russian Otkritie has carved out a new but strong business of acting as broker for structured loans between Russian corporates and Western lenders, allowing Western institutions to continue lending to their Russian clients, a senior banker at Otkritie told GlobalCapital Emerging Markets. However, Otkrities’s once thriving local and nascent international bond businesses are not faring quite as well as political tension and slower economic growth has taken its toll on Russia.
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US and European banks that have cut their exposure to Russian borrowers as a reaction to sanctions from the West are making decisions based on emotions rather than sound business sense, according to Victor Belyakov, chief financial officer of potash firm Uralkali. -
Read on to see how selected benchmarks are faring in secondary. Trading levels given are bid-side spreads versus mid-swaps and/or an underlying benchmark as of Thursday's close. The source for secondary trading levels is Interactive Data.
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Some banks big in the emerging markets this week laughed at GlobalCapital when we asked whether any cuts had yet been made to their Russian bond teams. "It has only been two months since the start of the Crimea crisis!" they said, and this is, after all, the emerging markets, where volatility is par for the course. Many are cheerily optimistic that Russian bond business could return in the second half of this year. We disagree.
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JP Morgan and Morgan Stanley’s EM rivals may be gleefully awaiting punishment of those banks through future Russian mandates after this week they helped Ukraine raise $1bn via a US-AID backed bond, but they should not bet the ranch on a Russian freeze out.
