Russia
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CEEMEA borrowers raised $37bn of euro and dollar bonds in October, making it the busiest month on record. -
Russia’s Tatfondbank started marketing on Monday the lowest rated Russian bank bond issued to investors since 2012.
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Alfa-Bank printed Russia’s first ever Basel III-compliant additional tier one deal on Thursday, and so popular was the deal that the issuer was able to increase the size from a planned $300m to $400m.
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Lukoil capped another busy week for Russian borrowers with a tightly priced dollar 10 year that was the largest corporate bond from the jurisdiction for more than six months.
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Alfa-Bank was on course to issue the first Basel III additional tier one trade from a Russian bank on Thursday. Despite wider rates market volatility, the deal’s execution was proceeding unaffected.
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Russia’s Lukoil drew peak orders of $3.6bn for its new 10 year bond, sold on Wednesday, which allowed it to push pricing to at least 13bp inside its indicative curve. Asian demand for Russia’s premier private corporate also impressed bankers, suggesting that Russia’s capital markets reintegration is wide reaching.
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Russia’s Domodedovo Airport will start meeting investors on Friday ahead of a planned five year dollar bond issue.
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Credit Bank of Moscow looked set to test the limits of investor appetite for Russian bank paper on Thursday with the longest senior dollar deal from the jurisdiction since the start of the Ukraine crisis.
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Russia’s largest privately owned oil-company Lukoil opened books on its first bond in three years on Wednesday, a 10 year dollar benchmark offering around 100bp over the sovereign.
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Russia’s largest privately owned oil company Lukoil is set to bring its first bond in three years on Wednesday. Demand for the top tier Russian corporate is expected to be strong and could drive pricing inside the borrower's indicative curve, according to rival bankers.
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