Société Générale

The euro SSA market reacted with commendable calmness to the Dow Jones’s worst day in six years on Monday but moves in the secondary market on Thursday showed that “vol isn’t dead”, according to one head of SSA DCM.

Credit Bank of Moscow and Domodedovo Airport (DME) brought the total Eurobond tally of Russian issuers this year to seven this week. Those latest two issuers jumped in shortly after Directive 1 sanction fears were quashed by the US Treasury.

Moldovan agro-industrial holding company Trans-Oil Group is looking to make its capital markets debut. The deal will be the first ever from a Moldovan corporate — and with no outstanding bonds from the sovereign, investors will have a lot of price work to do.

Moldovan agro-industrial holding company Trans-Oil Group is looking to make its capital markets debut. The deal will be the first ever from a Moldovan corporate, and the first chance investors have had to buy Moldovan risk since 1997.

Credit Bank of Moscow printed a $500m five year bond from a book in excess of $1.1bn on Wednesday, quelling fears of EM new issues shutting down in face of US Treasury yield rises. Domodedovo Airport looks next to print in dollars from the country while the State Transport Leasing Company has also mandated for a bond.

GlobalCapital revealed the winners of its 2017 Loan Awards at its annual Loans and Leveraged Finance Awards Dinner at Gibson Hall in London on February 7. The full results are below: GlobalCapital congratulates all the winners and nominees.

A buoyant January in equities markets has been followed by a difficult start to February, with the first IPOs out of a full pipeline seeing some issues in marketing just as stock markets tumble across the globe.

Rival bankers are keenly watching Credit Bank of Moscow’s trade as a barometer for the market this week. A sell-off in US Treasuries seemed to imply a higher borrowing cost for the issuer, though with price revisions to come, it is too early to say by how much.

A pair of euro borrowers braved a tricky market on Tuesday, raising a combined €4bn despite heavy weather in government spreads. One opted for a defensive pricing strategy, while the other attempted to squeeze investors.

US oil and gas company Kosmos Energy, which operates in Africa, has refinanced a reserve-based lending facility signed in 2015.

Novares, the French plastic car parts maker, has begun bookbuilding for its rebooted €260m initial public offering on Euronext Paris.

Romania issued €2bn of new debt with a dual tranche offering on Thursday, taking the largest portion of funds with a new 20 year bond.