Russia

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.

For the second time this year Norilsk Nickel tried to push its luck with pricing, only to find that investors would not support it through to the tight end of guidance.

Intesa Sanpaolo has finally launched into general syndication a €5.2bn loan that it solely underwrote for the acquisition of a 19.5% stake in Rosneft by the Qatar Investment Authority and Glencore, after months of delay and reports that it might not happen.

Norilsk Nickel had taken a book of $1.4bn for its new April 2022 and looked to be on track to print with its lowest coupon ever as it makes use of the seemingly unstoppable bid for emerging market assets.

Tinkoff Bank is targeting a return to the Eurobond market after an absence of more than four years, following a pair of rating upgrades in recent months.

EM is back to work after the long weekend with Ivory Coast naming banks for its long awaited bond, and Norilsk Nickel and Tinkoff Bank from Russia, announcing their intention to issue new debt.

Russia's State Transport Leasing Company (STLC) achieved substantial price tightening on its return to the US dollar bond market on Wednesday.

The Moscow Exchange (Moex) and Shanghai Stock Exchange (SSE) have agreed to an expanded “strategic cooperation” agreement, and intend to develop debt and equity products for investors.

Aluminium producer Rusal secured a $1.7bn pre-export finance facility on Wednesday, the fourth PXF from Russia signed this month, as banks favour the stability of this structure in the current political climate.

Russia is on a roll with its fourth senior secured pre-export finance facility signed this month, the latest one being a $1.7bn deal for aluminium producer Rusal.

Chinese loan banks are appearing in more and more emerging market loan deals this year, as they race towards the loan market big league, but while their hunger for market share is evident, they're still taking a conservative approach.

Russia’s largest coal producer Siberian Coal Energy Company (Suek) has signed a five year $1bn pre-export finance facility, the third deal of its kind from the country this year.