Latest sovereign news

• EFSF and AFD price in strong euro mart as pipeline builds

  

  The European Financial Stability Facility (EFSF) and Agence Française de Développement (AFD) became the latest issuers to enjoy a strong euro market this week, and there is more supply to come.

  • 14 Feb 2019

• Uzbekistan makes first leap into capital markets

  

  Uzbekistan opened a new chapter in emerging market bonds on Wednesday, printing a $1bn dual tranche deal. Market participants are expecting a swathe of other issuers from the country to follow the sovereign into the capital markets, although soggy trading on Thursday has stiffened investor resolve to hold firmer on pricing on subsequent Uzbek deals, writes Francesca Young.

  • 14 Feb 2019

• Uzbekistan: a brief reminder of better times

  In the emerging markets over the past year the art of bond investing has often felt like perfecting the skill of mitigating disaster — of knowing when to catch a falling knife or jump on a rebound before everyone else does.

  • 14 Feb 2019

• Uzbekistan bonds struggle after ‘super tight’ pricing

  

  Uzbekistan printed its $1bn dual tranche five and 10 year bond on Wednesday to great investor excitement, but the bubble was punctured on Thursday when both traded down in the secondary market. That was despite orders as big as $300m from one international EM account, according to Uzbekistan’s deputy prime minister and finance minister, Jamshid Kuchkarov.

  • 14 Feb 2019

• Turkey returns to sukuk, sets up corporate comeback

  

  The Turkish sovereign’s third bond of the year, a sukuk, was priced with no new issue premium on Wednesday, paving the way for Türk Telekom to come to market.

  • 14 Feb 2019

• Indonesia returns to green notes with sukuk

  

  The Republic of Indonesia was back in the dollar market this week with its regular sukuk issuance. But with a trade that mirrored its 2018 Islamic financing transaction, the sovereign added a green tranche, allowing it to tap a niche set of investors in an effort to raise $2bn. Morgan Davis reports.

  • 14 Feb 2019

• Turkey tightens as books for sukuk over $3.5bn

  

  The Republic of Turkey has tightened price guidance for its three year sukuk to 5.9% area, with books for the deal in excess of $3.5bn.

  • 13 Feb 2019

• Netherlands latches onto red hot sovereign demand

  

  The Netherlands became the latest sovereign from the eurozone to receive a record order book in 2019, as it sold a new 10 year benchmark bond through auction on Tuesday.

  • 13 Feb 2019

• If it ain’t broke: Indonesia repeats green, sukuk combo

  

  The Republic of Indonesia returned to the bond market in style this week, using a tried-and-tested formula by adding a green tranche to a $2bn sukuk.

  • 13 Feb 2019

• Armenia repo stream deepens after third structured EBRD deal

  

  Armenia is to increasingly tap the repo market for its funding needs following three landmark transactions between Armenian banking group Armswissbank and the European Bank for Reconstruction and Development (EBRD).

  • 12 Feb 2019

• Latvia opens books on 30 year

  

  Latvia came to market on Tuesday morning for a 30 year euro benchmark, reawakening a dormant Central and Eastern European bond market.

  • 12 Feb 2019

Sovereign news archive