Russia
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Alfa-Bank emerged with pricing for a three year euro-denominated bond on Thursday morning, in the first deal in the currency from the Russian lender since June 2014. -
Gazprom has announced plans for a UK roadshow next week ahead of a potential return to the sterling bond market.
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Credit Bank of Moscow has named leads for a rare Russian Basel III-compliant tier two bond, its first capital issue.
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Russia's Eurobonds were given a further boost on Friday as S&P upgraded the outlook the country's BB+ rating to positive from stable on Friday.
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Russia ramped up its renminbi efforts this week with Rusal pricing the first Panda bond from the country. The deal closed on the same day the Central Bank of Russia revealed plans to open a renminbi clearing house ahead of a sovereign bond.
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Russian corporates continued to prove popular with dollar bond buyers this week as Gazprom returned to the currency after an absence of more than three years and Evraz saw good demand for both legs of its latest liability management exercise.
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Gazprom became only the second Russia corporate to target the 10 year maturity in dollars since 2013 on Thursday, emerging with initial price thoughts for a new 144A/Reg S benchmark.
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ABH Financial, the holding company of Russia’s Alfa-Bank, will meet investors in Europe next week for a rare Russian financial euro-denominated bond.
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Evraz saw a strong response to both the new issue and buyback legs of its latest liability management exercise, allowing the Russian steelmaker to print a $750m six year tight to its existing curve on Monday.
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Unperturbed by softer markets of late, Russian steel firm Evraz was on track to print a bullish six year bond on Monday morning.
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Russia supply looks set to continue next week following the announcement by Gazprom of plans for a long-awaited return to the dollar market and the start of yet another liability management exercise from Evraz.
