Most recent/Bond comments/Ad
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The syndication is among the Dutch development bank's largest in the region and attracted Middle East lenders
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
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European bank debt did not escape a general pullback from risk positions on Monday as the political future of Ukraine remained mired in uncertainty. Those with exposure to the country were hit hardest but the broader market was also weak in cash terms. -
New investors in Lenta were hurting on Monday after buying shares in the Russian hypermarket chain days before worries around Ukraine dragged Russian stocks down and pulled Lenta's valuation with them.
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The Republic of Azerbaijan has picked banks for its inaugural dollar bond and begins investor meetings on Monday. Comparably rated sovereigns like Russia and The State Oil Company of the Azerbaijan Republic (SOCAR) with provide reference points for pricing.
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This week’s CEEMEA deals were trading well in the secondary market on Friday morning. Abu Dhabi Commercial Bank’s $750m bond was almost 10bp tighter after being priced flat. Gazprombank’s 5.5 year transaction was slightly above re-offer, and Russian Railway’s nine year euro transaction was up after being sold against a particularly difficult backdrop.
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Brazilian lender Banco Safra sold its debut Swiss franc deal on Thursday. A strong response from investors allowed the bank to sell the largest deal in the currency from a LatAm financial.
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Ukraine has a long history of weak credit quality. Indeed, one has to go all the way back to August 2011 to find 5-year CDS levels tighter than 500bps.
