Raiffeisen Bank International AG
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Austrian oil and gas company OMV discovered on Thursday that investors are far from finished with the investment grade corporate bond market in 2017. The strength of demand for its new nine year deal resulted in the company printing its largest ever bond.
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The Russian loan market is moving towards more unsecured deals with Russian paper company Ilim signing the fourth unsecured deal this year, for $500m.
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Oesterreichische Kontrollbank found an almost empty market as it made a strong return to euro issuance after nearly a decade of absence. The lack of other benchmarks surprised some bankers — although opportunistic deals and SRI issuance now seems likely to make up the bulk of the remaining deals this year with most issuers very well funded.
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Oesterreichische Kontrollbank has made a triumphant return to euros on Tuesday as it printed in the currency following a more than eight year absence. Elsewhere, Nederlandse Waterschapsbank sold a small long dated euro tap — a tactic SSA bankers expect to see more of.
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Oesterreichische Kontrollbank is the only public sector issuer on screens for Tuesday business in either euros or dollars, with supply in the latter likely to be dampened this week due to a crucial US Federal Reserve meeting.
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Tajikistan has named two lead banks for its first ever bond, the proceeds of which will be used to partially fund a hydropower plant project.
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Nitrogénmuvek, the Hungarian fertiliser group, became the second borrower with high yield ratings to cancel a deal this month, after Tereos pulled a highly structured bond seven days ago. This time, the problem was size.
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Hungarian fertiliser group Nitrogénmuvek launched the smallest high yield bond offering of the year so far on Wednesday. But guidance suggested the borrower seeks to pocket large savings as it refinances its old 2020s.
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Oil and gas company MOL became the first Hungarian issuer to raise funds in the Schuldschein market, in a sign that more lenders, given the right credit, are prepared to be tempted eastwards.
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In one of the liveliest weeks for Polish IPOs for years, Raiffeisen Polska’s flotation was pulled, debt collector GetBack priced its listing at the bottom of the range, and Play Communications, the mobile phone company, achieved a covered book on the market’s biggest IPO for five years.
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GetBack, the Polish debt collection company, has priced its Warsaw IPO at the bottom of the range, in a further sign of the variety of outcomes in the present flotation season.