Slovenia
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Slovenian bank drew one of the biggest FIG order books in CEE in the past year
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The bank was boosted by a benign Fed meeting and a successful deal from Poland this week
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Slovenia was also in the euro market, tapping 10-year bonds
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A green yen bond could form part of the CEE sovereign's €4.7bn funding this year
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Deals away from the public market can offer cheaper pricing and new pockets of demand
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Gulf issuers get ready after steady beginning to year's bond sales
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Any new issue premium estimate is tricky because of a bigger than usual secondary adjustment
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First trip to the dollar market for nearly a decade
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CEE bank bonds have done well in secondary since the last bout of supply in June
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More pile in for euros following NLB's 'blowout' €500m print
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Senior preferred deal could be priced at 'low to mid 7%' based on recent comps
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Slovenia managed to draw 'substantial' new investors despite running a tender alongside the tap
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The Republic of Slovenia will tender for two bonds this week and is planning a new euro issue alongside the liability management exercise.
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Only the US bank remained on the second attempt at executing Slovenian bank's bond mandate
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NLB failed to hit its target size of €200m-€300m
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A missile landing in Poland on Tuesday has not had any impact on the CEE bond market
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The Slovenian bank expects to draw demand from investors outside of Slovenia
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It had hoped to raise funds off longer dated bonds but investors are too risk-averse
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CEEMEA issuers have increasingly had to rely on the local bid
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NLB is a rare issuer, which is one reason it may have chosen to pay more than borrowers which printed bonds recently
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Investor concern over "super-high" prices some issuers are willing to pay
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ECB rate rise fears later this year means costs have risen for the sovereign’s second 2022 visit
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Sovereign was first CEE issuer this year, but will pay more this time around
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Slovenian lender cut price by 10bp and increased book size as EM investors, issuers face off
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Four CEEMEA issuers are trying to issue new bonds, but investors are being put off by volatile US Treasury yields
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The sovereign has filled maturity gaps in its debt profile with the first CEE issuance of the year
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Sovereign drums up €55bn of orders for new benchmark despite macro and political worries
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Slovenia four and 40 year pair begins CEE new issuance for the year
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Slovenia, which many expected would launch a century bond on Wednesday, is set to tap an existing 10 year deal instead
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The central European sovereign is returning to the market for the fourth time this year, with what market participants expect to be a 100 year bond
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The Republic of Slovenia debuted in the sustainable bond market this week when it sold its third debt offering of the year. It is only a matter of time, bankers said, before sovereigns across central and eastern Europe embrace the ESG debt markets.
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The Republic of Slovenia was selling its third bond of the year on Wednesday — a debut sustainability offering. The sovereign, which many investors categorise alongside western European investment grade sovereigns, was set to price the deal tight.
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The Republic of Slovenia revealed the mandate for its debut sustainability bond on Monday, just months after it impressed market participants with a 60 year bond.
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The Republic of Slovenia sold its longest ever bond issue on Wednesday, just three weeks after it sold a €2bn deal. The bid for duration was evident as investors piled in with more than €4bn of orders.
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The Republic of Slovenia is set to sell its longest bond ever on Tuesday, picking banks for a 60 year euro benchmark — a 36 year extension of its curve.
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After a record breaking year for sovereign bond issuance in central and eastern Europe, 2021 could be a different story, thanks to the European Union's vast economic support packages that could reduce the need for many CEE countries to tap international bond markets.
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The Republic of Slovenia has repeated its 2020 feat of being the first sovereign issuer in CEEMEA to launch a bond by coming to the market with a mandate on Tuesday. Despite the apparent rush for bond funding, however, many believe that EU funding will provide some of what CEE countries would otherwise have taken from public bond markets.
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Three emerging market issuers in CEEMEA mandated for trades on Monday, as market insiders said issuers are scrambling to make the most of issuance opportunities before investors take their foot off the gas.
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Bankers and investors say FIG issuance will return to the fore after a sovereign-dominated first half of the year. Three bank issuers this week showed that the market is open for non-sovereign issuers. As fears of a second wave of Covid-19 infections and November's US presidential elections threaten volatility, some say the usually quiet summer period may be inundated with EM issuance.
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The Republic of Slovenia navigated a much changed euro new issue market on Tuesday, executing a three year bond and tap that required unconventional pricing tactics.
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The Republic of Slovenia became the first CEEMEA issuer to print a bond this decade, quickly launching a €1.5bn deal from a book of €11.75bn on Tuesday.
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A group of pre-IPO shareholders in Adyen, the Dutch payments company, have sold €311.8m of stock in response to reverse enquiries from investors. The Slovenian government also took advantage of the momentum in the blocks market to sell another 10% of NLB, the country’s largest bank.
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Všeobecná úverová banka (VUB) has issued the first ever 10 year covered bond from Slovakia, thanks in large part to the high spread that ensured a 0.5% coupon — a return that investors demand — but one that is now out of reach for most European names in this tenor.