Most recent/Bond comments/Ad
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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Poland snatched up funding in the Schuldschein market last week, and is expected to return to the market again this year. Elsewhere, financial institutions from the country are expected to print more private placements.
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The recent round of Russian deals finished the week in varying states of secondary market health. Gazprom’s seven year euro bond was up 5bp, Russian Agricultural Bank’s $500m tap was around re-offer, and Sberbank’s subordinated note was down by between 75 cents to well over a point in cash terms, said bankers off that transaction. Some felt this was an unfortunate start to what should be a run of Russian capital deals, but other debt bankers away from Sberbank’s sale defended the leads' strategy.
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When the Central Bank of Russia redefined the point of non-viability language for subordinated debt late last year, investors won a rare and important battle. However, the new language removes much of the functionality of subordinated debt and takes away any discretion the CBR previously had in triggering a bail-in. Many structuring specialists are now wondering whether the CBR had given too much away and made it too easy for investors. -
Investors hunting for yield are eager for private placements in emerging market local currencies, according to MTN dealers. Turkish banks are tapping the demand and will print more deals in the currencies in the coming weeks.
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A five year facility that will be used to finance oil purchases by BP from Rosneft will likely not reach its initial expected amount of up to $5bn.
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Corporate bond issuance is set to get busier again in Europe next week, bankers say, with a drive-by deal also possible on Friday.
