Tepid balance of payments figures in Russia are contributing to a shrinking current account surplus, which will place downward pressure on the ruble, according to a report from ING.
22 Jan 2020
Following the death of President Islam Karimov in 2016, Uzbekistan’s new President, Shavkat Mirziyoyev has set the country on a long but necessary path to reform. The relaxation of foreign exchange markets, release of political prisoners, and the sovereign’s debut Eurobond issuance have all since highlighted reform efforts in one of Asia’s most tightly controlled markets. Now, as the government…
21 Jan 2020
In affirming its positive outlook and BB- rating for Armenia, the agency praised the fiscal stabilisation and a fall in public debt of one of the smaller economies in the CIS.
20 Jan 2020
Announcement of a Middle Eastern leg of the bond roadshow signals Russian issuers’ commitment to diversify their investor bases.
16 Jan 2020
The fertilizer giant is roadshowing for a USD-denominated LPN that will go towards refinancing USD150mn Eurobond maturing next year.
14 Jan 2020
While the government’s rhetoric implies commitment to dumping the greenback, latest figures released by the CBR tell a slightly different story.
14 Jan 2020
Known locally as Uzpromstroybank, the state-owned lender priced a record-low FI debut issue out of the CIS, offering investors c. 200bp premium on the sovereign notes.
9 Jan 2020
The state-controlled lender tapped the international markets for EUR150mn, upsizing from the initially planned EUR100mn issuance.
7 Jan 2020
A preliminary agreement with the IMF on a vital USD5.5bn loan is an auspicious signal that a long-awaited economic recovery in Ukraine may be in the offing. But with the PrivatBank case and a number of other international litigation battles still simmering, bad headlines streaming from the US impeachment proceedings and little progress in establishing peace on the Eastern border, Ukraine still…
6 Jan 2020
The renewable energy firm blazes a trail in its home market with a EUR325mn transaction that draws in strong participation from ESG-focused investors across Europe and the UK.
27 Nov 2019
SOCAR, Azerbaijan’s state oil and gas company, currently bears the mantle of the largest foreign direct investor in Turkey. The opening of SOCAR’s USD6.3bn STAR Refinery in October 2018 marked one of many major projects in the country. Bonds & Loans spoke with Elchin Ibadov, Finance and IT Deputy General Manager, about SOCAR’s bid to create a centralised treasury function, fostering operational…
24 Oct 2019
The ESG industry has all too often gotten the cold shoulder from Russia – a country that, seemingly, should be one of the least concerned about average temperatures rising. Will Vladimir Putin’s warming to the idea lead to a slew of green bond transactions?
17 Oct 2019