GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

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News content

  • The Republic of Kazakhstan and the State of Montenegro have mandated for the first euro bonds from the CEEMEA region since the market re-opened in September.
  • The African Export-Import Bank sold its $750m 10 year bond on Tuesday from a book of around $3.35bn, with recent low supply from African issuers having helped drive demand for the deal.
  • CEE
    Russia’s State Transport Leasing Company (STLC), is planning to add to the spree of new bonds from Russia, hitting the road to market a six or seven year dollar benchmark. The deal will be the first time a fully state-owned company has tried to tap the bond markets since the most recent round of US sanctions against the Russian sovereign in early August.
  • CEE
    Russian pipe manufacturer Chelyabinsk Pipe Plant on Thursday sold one of the tightest ever Russian debut bonds, according to a lead manager on the note.
  • Hong Kong Exchanges and Clearing has made an unsolicited £32bn bid for the London Stock Exchange Group, a move that could torpedo the LSE’s acquisition of Refinitiv.
  • Kuwait's Warba Bank is embarking on a roadshow to market its first senior unsecured sukuk. The dollar five year note is expected to be printed “around the 3% mark”, according to a DCM banker on the deal.
  • The order book for Emaar Properties’ 10 year sukuk had hit around $1.85bn by Tuesday morning, but the issue size will be capped at $500m, according to a DCM banker on the deal.
  • CEE
    Two Russian steel companies have announced mandates and roadshows this week and look set to become the first corporates from the country to test the bond market since the latest round of US sanctions on their country in early August.
  • African Export-Import Bank has mandated banks for a Reg S/144A dollar five to 10 year bond with a deal that could be twice as long as its last outing. It well test investor appetite for the deal next week.
  • CEE
    Russian pipe manufacturer Chelyabinsk Pipe Plant has become the second metals company from the country to announce plans for a roadshow this week, joining Severstal. The Chelpipe deal — a $300m Reg S/144A five year senior unsecured note — will be the company's debut in the Eurobond market.
  • Two CEEMEA issuers — one of which is a Russian corporate — have mandated for bonds and are heading off on roadshows, ending a barren summer for the asset class.
  • CEE
    Poland’s prefunding for 2020 may even be higher as a proportion of total funding than the 34% it reached for 2019, said Robert Zima, head of the debt management office (DMO) in Warsaw, thanks to an expected lower budget deficit which means that the country’s total borrowing requirements are set to fall.