JP Morgan

Vimpelcom raised $1.5bn at its holding company level on Tuesday, as it looks to complete its transition into a more streamlined, western-looking borrowing entity. Though it appears to be looking to shake off its Russian associations, investors say the risk is still the same.

Yapi Kredi hit screens on Wednesday with a new seven year note and will be hoping to capitalise on more positive economic indicators from Turkey, while offering some juice to overcome any investor fatigue around buying Turkish bank debt, according to a buy-side analyst.

All the action in the SSA bond markets switched to euros on Wednesday morning with the US Federal Reserve's imminent decision on interest rates quieting the dollar market.

State-owned hydropower company China Three Gorges Corp is marketing its maiden international green bond denominated in euros. The firm raised Rmb6bn ($900m) from an onshore green outing two years ago.

A trio of euro borrowers launched trades and a fourth picked banks on Tuesday in a market buoyed by a perceived renewal of European political unity following welcome results in elections in France and Italy at the weekend.

The €3bn IPO of Allied Irish Banks, the Irish banking group, was covered at its maximum size including the greenshoe by the end of the first day of the bookbuild on Tuesday. The deal could value the rescued financial institution at up to €13.3bn if it is priced at the top of its range.

Kommunalbanken built a doubly subscribed book on Tuesday for a long three year dollar deal that bankers said should give confidence to the market after a similar trade from KommuneKredit two weeks ago fell short of full subscription.

The IPO of ALD, the car leasing division of Société Générale, is covered at its maximum size including the greenshoe, ahead of the end of the bookbuild on Thursday.

Romania-focussed Globalworth Real Estate Investments drew support from a variety of investors for its debut bond, which included a large cornerstone order from a financial institution, to price a €550m deal at 3% on Monday.

Bond investors shrugged off state-owned oil company Petroperu’s low credit quality to pile into its debut deal in remarkable fashion as the issuer sold 15 and 30 year bonds at a tighter spread to the sovereign than its Mexican counterpart Pemex.

Russian supply is trickling through after Tinkoff Bank placed the sole deal from the region last week with Vimpelcom taking books on Tuesday of over $3bn at for a dual tranche offering, and Eurochem back for a another bite of the capital markets cash.

Indonesia’s Soechi Lines postponed a dollar bond on Monday because of uncertain market conditions and severe weather in Hong Kong, and it plans to engage with investors at another time. The pulled deal raised questions about whether the pricing on offer was enough to maintain the buy-side’s interest in the first place.