Most recent/Bond comments/Ad
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The Romanian economy is struggling to get out of recession
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%
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Emerging market bond supply had an explosive end to the week thanks to the US Federal Reserve, which lit the fuse by delaying a reduction of its quantitative easing policy, to the surprise of many market participants. The move unleashed a surge of bond issuance across CEEMEA and Latin America, which bankers expect to be just the start of a race to take advantage of reduced funding costs, write Francesca Young and Steven Gilmore. -
Armenia opened books on its first Eurobond on Thursday morning and set initial price thoughts at 6.375% area for a seven year bond, which offers fair value relative to Serbia and neighbouring Georgia, said analysts.
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Gazprom priced a £500m sterling bond on Wednesday and paid up only slightly compared to where it could have printed in dollars. A surge of demand surprised the leads, who shaved 50bp off pricing during execution and still ended up with almost 10 times the necessary demand. But bankers away from the deal said the steep spread revision pointed to sloppy execution.
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Turkish Islamic bank Kuveyt Turk has sent out an invitation letter to loans bankers for a murabaha facility. This is the first time the bank has come to the loan market since 2009.
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Hungary has filed a registration statement with the SEC to issue up to $5bn in debt securities, and analysts are expecting the sovereign to take advantage of the chunky new programme before the end of the year.
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Gazprom broke the CEEMEA bond market silence with a seven year sterling deal on Wednesday. It had the market to itself as other issuers waited for the Federal Open Market Committee meeting in the US to end before bringing deals.
