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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Turkey led a string of CEEMEA issuers this week that brought well received bond deals to market despite evidence that the situation in emerging markets bares an alarming similarity to that in 1998 which sparked a full-blown crisis in Asia, writes Francesca Young. -
Sberbank’s prospective 10 year subordinated bond looks unlikely to emerge this week after the bank finished investor meetings. A packed roadshow schedule means the leads are still collating feedback, and a softer market tone and an upcoming US holiday means Tuesday could be the next potential launch date.
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The Republic of Turkey’s $1.5bn 6.625% 31 year bond, printed only a fortnight after the country’s fiscal problems were blamed in large part for dragging CEEMEA into turmoil, crossed the finish line with an awe-inspiring $6.25bn book. The huge success of the deal, which lead managers said was printed with only a 10bp new issue premium, prompted a rally across CEEMEA on Wednesday as it became clear that fears over Turkey’s capital markets access have been overblown.
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Borrowers, investors, private equity houses and banks voted in an open poll in November 2013 for the best banks in the emerging market syndicated loans market. Here are the results.
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Slovenia’s recent $3.5bn bond has repriced the borrower’s bond curve tighter by as much as 25bp, according to bankers on and off the blow-out deal. Although some of the borrower’s dollar paper has not recovered all the ground lost in the latest emerging market sell-off, the fact that the Slovenia’s euro paper has been pulled tighter made it clear the performance qualified as a repricing rather than a recovery, said bankers on the bond.
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Gazprom has picked banks for a euro transaction and begins a roadshow on Monday. The basis swap from euros into dollars has become steadily less favourable for borrowers, though it is not clear whether Gazprom will swap the proceeds or not. But strategy savvy borrowers still have ample reasons to build out euro curves, said debt bankers.
