CEE & Turkey
Emerging Market Regulators Make Strides Building Green Bond Momentum
Growing support for market-driven policies aimed at facilitating green issuance has created important wins for the sustainable finance segment, especially in emerging market countries like China, India, and Mexico. But with the bulk of those policies, at their core, fixated on determining what qualifies as ‘green’, key questions about industry standards – and the best approach to applying them –…
25 Aug 2017
Russia, CIS, Europe & Turkey Credit Markets Brief: 10 August – 24 August
Rosneft cuts Venezuela’s credit– Eurochem is arranging a US$325mn pre-export facility – Sistema to pay US$2.3bn to Rosneft– Azerbaijan gets downgraded – Akbank signed a dual-tranche syndicated loan – Turkey sells US$971mn worth of T-bills
24 Aug 2017
Russia, CIS, Europe & Turkey Credit Markets Brief: 29 July – 10 August
CBR keeps rates steady, readies sale of OBR bonds – Nickel production in Russia to remain flat this year – Naftogaz increases compensation demand from Russia by US$5bn – Engie may pull out of Nordstream 2 – Albaraka Turk readies US$400mn issuance – Bank lending in Turkey to rise in 2018
10 Aug 2017
Economic Woes hit Project Finance in Turkey
Project finance in Turkey continues to decline as geopolitical fears, high financing costs and low energy prices put a dent in demand and further strain the local lenders assets.
10 Aug 2017
Off the Record: Global Investors On Concerns and Opportunities in Emerging Market Debt
The rally in EM assets this year seems all but unstoppable as investors continue hunting for yield further afield amidst persistently low interest rates in developed markets and a weakened US dollar. Is it set to continue? Bonds and Loans speaks with global investors one-on-one about macro trends influencing EM debt capital markets.
8 Aug 2017
CASE STUDY: EEHC’s Lightning-Fast EGP20bn Syndication to Develop Egypt’s Power Sector
EEHC, Egypt’s main electric power distributor, successfully completed one of the largest loan syndications in the region with the help of two major lenders, National Bank of Egypt and Banque Misr, which, in a pioneering twist, marketed the loan at discount rates on the secondary markets.
1 Aug 2017
Russia, CIS, Europe & Turkey Credit Markets Brief: 13 July – 28 July
Gazprom tapped the international markets – Alfa Bank issued a RUB10bn Eurobond – AFK Sistema declared technical default on bonds –– Halyk Bank acquires Kazkommertsbank – IBA plans to restructured approved by shareholders – Greece returned to the capital markets – Halbank to issue a US$2bn bond in the international markets
28 Jul 2017
Fear and Loathing in Emerging Markets: EM Investing After the Crisis
When it became apparent, after the collapse of Lehman Brothers, that the global economy was encountering something more than just an ordinary downturn, most market observers were certain they knew what was in store for emerging markets. After all, the three decades prior to 2008 were littered with crises in developing economies from Mexico to Malaysia. Still, while the worst never came to pass…
26 Jul 2017
Yields Could Tempt EM Investors as Greece Plots a Bond Market Return
A US$3bn issuance could offer the world’s oldest democracy an escape route from the vicious debt cycle it has found itself in, but expectations will need to be managed and a continued push for reforms is integral to this mission.
18 Jul 2017
Russia, CIS, Europe & Turkey Credit Markets Brief: 20 June - 13 July
Russian Eurobonds see strong demand despite additional US sanctions looming – Russia’s VTB agrees new loan to Croatia’s struggling food producer Agrokor – Gazprom issues US$500mn Eurobond – Russia’s Yugra bank is latest to go into administration – Ukraine expects delays on latest IMF tranche – State-owned Ukrainian Railways to issue UAH2bn bond - Azerbaijan's FX reserves rose by US$3bn - Turkey's…
13 Jul 2017