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The Republic of Serbia’s first international bond in six years — a euro 10 year deal — has drawn a healthy book of over €4.5bn.

Emerging market borrowers have been out in force for the last week and a half in the primary bond market. This week was forecast to be more of the same. A speech from European Central Bank president, Mario Draghi, in Portugal on Tuesday hinted at monetary easing to come, doing nothing to dampen the mood in the primary market. But the outcome a US Federal Reserve meeting on Wednesday could really see the brakes let off.

Black Sea Trade and Development Bank has updated price talk for its five year dollar benchmark with order books around $1.7bn.

The Black Sea Trade and Development Bank (BSTDB) has said it is focusing on selling a three year bond this week.

A bevy of names from central and east Europe issued bonds this week and more are lining up amid a dramatic mood shift among investors.

Georgian TBC Bank printed its long-awaited $300m five year bond on Wednesday from a book of over $700m.

Ukraine has released initial price guidance for a euro deal that the country has been waiting to print since before Volodymyr Zelensky’s presidential victory in April.

The Republic of Croatia launched its €1.5bn 10 year bond on Wednesday afternoon in London from a book of €6.4bn at a level 7bp inside of fair value, according to a lead manager on the note.

TBC Bank, Georgia’s largest bank by assets, loans and deposits, has set the size for its debut dollar bond at $300m and order books for the deal are already well over that amount.

GeoProMining printed its $200m five year bond on Wednesday and a banker on the deal said the success of the note was a further sign of how much more comfortable investors have grown with Russia credit.

The Republic of Lithuania has set spreads on its 10 year and 30 year euro bonds having crunched 10bp from initial guidance.

The CEEMEA region is lining up one of its busiest fortnights of the year for bond issuance as Black Sea Trade and Development Bank and the Republics of Serbia, Croatia and Lithuania join a swathe of EM issuers already on the road. JP Morgan looks to be solidifying its position at the top of the CEEMEA league tables — it has been picked for every one of the deals mandated on Tuesday.