CEE & Turkey
BBH produced the following ratings model to assess relative sovereign risk in Frontier Markets. A country’s score directly reflects its creditworthiness and underlying ability to service its external debt obligations.
Petropavlovsk sold USD500mn of fresh debt –– PSB gets downgraded – Rosneft’s shares take a hit due to Venezuelan crisis – Venezuela and Russia agree on debt restructuring –ABLV placed USD40mn of unsubordinated notes – Belarus to issue USD600mn next year – The government to support Turkey’s export sector
Rosselkhozbank to issue perpetual bonds – Petropavlovsk preparing its bond market debut –Croatia to hold a repo auction – Moldova cuts interest rates – Eurotorg issues Belarus’ first corporate bond – Greece to tap the international markets again – BOE hikes rates for first time since August 2016 – Relations between Turkey and the EU continue to deteriorate
It has been a difficult 12 months for the Turkish economy, but green shoots are finally starting to emerge and international lenders are refocusing on the next wave of funding opportunities in the country. We speak with Hulusi Horozoğlu, Assistant General Manager, Head of Wholesale Banking at HSBC Turkey, one of the country’s leading investment banks, about the dynamics of the local market, and where – against a broader global backdrop of low yields – the next wave of international liquidity is likely to land in Turkey.
Bonds&Loans speaks with Hakan Eryilmaz, Deputy CEO of Türkiye Halk Bankası A.Ş. (Halkbank), about Turkey’s ambitious growth targets, the lending environment, and making the country’s capital markets more accessible to corporate borrowers.
Western sanctions against Russia could stay in place for the next 10 years – Russia Railways issued a RUB15bn bond – Belarus could face further rate cuts – Kazakhstan’s Central Bank to sell USD1bn in assets – Hungary tapped the markets with 10-year notes – Diplomatic tensions take a toll on Turkey’s assets – Tupras sold USD700mn of fresh debt
B&N and Otkrite to merge – Sberbank to withdraw from some European countries – Sibur issued a USD500mn bond – Armenia holds rates – Slovenia places a EUR700mn bond – Turkey to issue gold-backed instruments – Yields on Spain’s bonds spike after referendum
A fortnightly review of Russia's debt capital markets, covering the latest loan, sukuk and bond deals, rating actions, policy and credit market developments... B&N becomes another Russian bank to be nationalised – Sistema appeals against court decision in Rosneft lawsuit – Russia to resolve tax dispute with Exxon over Sakhalin-1 – Ukraine issues first Eurobond since Crimea annexation – Turkey’s Yapi Kredi closes USD151mn dual-currency syndicated term loan – Tajikistan sees strong demand on inaugural Eurobond – Tensions between Poland and the EU escalate
UNEC to raise AED1bn – Bahrain to issue a sukuk – Nigeria pre-launched its sukuk sale – Afreximbank to boost capital for lending – CABEI gets upgraded – ADB tapped the international markets – Russia to resolve dispute with Exxon Mobile
Sistema runs a technical default – Otkritie bank to be bailout – Tajikistan is preparing benchmark offering – Moldova lowers its interest rate – Bank of Georgia sings a USD75mn trade finance club deal – Halk Bankasi to issue up to TRY12bn – Ukraine to issue Eurobond
- Russia, CIS, Europe & Turkey Credit Markets Brief: 10 August – 24 August
- Russia, CIS, Europe & Turkey Credit Markets Brief: 29 July – 10 August
- Economic Woes hit Project Finance in Turkey
- Russia, CIS, Europe & Turkey Credit Markets Brief: 13 July – 28 July
- Yields Could Tempt EM Investors as Greece Plots a Bond Market Return
15 Feb 2018