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  • CEE
    The Russian central bank announced a 25bp rate hike on Friday in a move calculated to offset the effect of expected US sanctions.
  • Belarus’s state-owned BeIinvestbank is in talks to raise a €50m syndicated loan, in a rare international deal for the country.
  • Soft demand and higher costs continue to hit Grupo Kaltex, leading Standard & Poor’s to downgrade the Mexican textiles company to B- last week and maintain the bonds on negative outlook.
  • Egypt’s Oilex has signed a E£2.4bn ($134m) loan from regional lenders, as the country continues to draw in international financing after a stamp of approval from the IMF.
  • Chinese local government financing vehicles are under immense pressure, with the ratings of 11 LGFVs downgraded last week. But the focus for now is on the upcoming redemption of Qinghai Provincial Investment Group’s $300m bond next week — key to investor confidence in the sector.
  • The African Development Bank is preparing to launch a Panda bond programme, following the inclusion of the renminbi in the valuation basket of the issuer’s reporting currency.