Ukraine

Initial price guidance has been set for two corporate bonds from issuers in the CEE region — EP infrastructure and Metinvest. Both deals expected to be printed later on Tuesday.

Kernel, a Ukrainian agriculture company, has returned to the international bond market for the first time in two years, defying the political turmoil developing in Ukraine.

Ukraine’s wildcard new president Volodymyr Zelensky has been making all the market-friendly noises investors could wish to hear, turning the country into a darling of emerging market portfolio managers. But there’s a wasp at the picnic: one oligarch's quest to regain his former bank is threatening the country’s economic future.

Fears are growing that Ukraine’s Privatbank, which was nationalised in 2016 at the behest of the IMF, may be reprivatised thanks to pressure from its former owner, oligarch Igor Kolomoisky. Such a move could jeopardise Ukraine’s chances of a new helping of IMF cash and the country’s bonds have sold off in response.

Two UK airports set to sell US private placements - Market first as Northern Irish housing association seeks US PPs - Kernel set to secure yet another facility, as EBRD continues Ukrainian push - RMB Mauritius secures loan, months after dollar debt transfer

A pair of Eastern European corporate borrowers are in the market for dollar paper on Thursday, taking advantage of excellent market conditions to secure cheap funding.

Kernel, a Ukrainian grain and sunflower producer, is set to secure yet another credit facility, alongside an amend and extend deal it recently signed. The European Bank of Reconstruction and Development will provide up to $80m of the total $300m facility, as the development bank continues to support Ukrainian corporates.

Fitch Ratings raised Ukraine’s credit rating from B- to B with a positive outlook. However, Bank of America Merrill Lynch believes that the country is still at risk of another debt restructuring.

Paddy Power looks to cash out with US private placements — Spurs up private placement deal to £525m — LXi Reit draws new revolver for acquisitions — AMS lines up €4.2bn bridge loan in Osram swoop — Ukraine’s Kernel to tap lenders for A&E

The price of Ukraine’s GDP warrants climbed rapidly this week on news of a “definite plan” to minimise the instruments’ impact on the country’s debt burden.

Ukrainian grain and sunflower producer Kernel is set to amend and extend an existing syndicated loan, according to bankers familiar with the deal. The transaction marks one of the few intermittent spots of activity in the Ukrainian loan market.

The price of Ukraine’s GDP warrants climbed rapidly this week on news of a “definite plan” to minimise the instruments’ impact on the country’s debt burden.