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Top section
Market is in good shape, but will not stay that way if war drags on over summer
Investors are still around and issuers can get ahead of the September rush
Issuer has the country's longest tier two curve
Data
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A licence allowing Russia to pay foreign investors will likely expire at the end of the week
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More LatAm issuers could buy back long-dated debt after price slump
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BGK may have to offer higher new issue premium than Polish sovereign
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Borrowers must be ready to jump into picky primary markets as stigma of failure falls
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EM borrowers have little to lose by approaching investors. Cowering in the corner could have a higher price
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The first CEE sovereign bonds in the primary market for more than a month showed how high new issue premiums need to be to lure investors
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