The issuance came at a significant premium and questions have been raised about the timing, as a 50bp Fed rate cut arrived shortly after the placement.
5 Mar 2020
Demand for government notes grew 1.5x from 2018, but was outpaced by more than 3x increase in supply, according to official state figures.
4 Mar 2020
The International Monetary Fund said this week that it had made good progress in talks with the Ukrainian authorities over the approval for a new loan programme to Ukraine worth USD5.5bn but its disbursement depends on Kiev’s performance on reforms, including a special law on banking.
3 Mar 2020
Russia’s slowness to respond to a fall in demand for oil following the coronavirus outbreak could send oil prices plummeting to as low as USD30 per barrel, according to analysts at Standard Chartered Bank.
2 Mar 2020
Russia’s biggest lender posted a 20% y-o-y jump in profits for 4Q2019, as it prepares for the looming change of the controlling shareholder.
27 Feb 2020
A new mechanism to compensate for the “green premium” on loans could incentivise businesses to tap the nascent market.
26 Feb 2020
Storchak, a veteran of the finance ministry is expected to resign in coming days, according to state media reports.
18 Feb 2020
The move is expected to ease concerns about the potential conflict of interest (regarding the CBR’s partial ownership of Russia’s biggest bank) and should provide additional funds for the “January Revolution” of additional social spending announced by President Putin at the start of this year.
17 Feb 2020
A number of large Russian banks were briefly teetering on the edge three years ago, as the industry was hit by a wave of bankruptcies and bad headlines. What followed was a five-year cleanse of the sector by the Central Bank and affiliated government agencies, and those lenders that came out unscathed at the end of it are now reaping the benefits of a less crowded and more stable industry. One of…
14 Feb 2020
An FI bond’s record price tightening, a new issuer from the CIS, a USD-denominated perp from a major Russian lender and three Turkish issues have blown the CEEMEA bond markets wide open.
5 Feb 2020