Sberbank tested investor sentiment for Basel III-compliant Tier 2 instruments when it priced a US$1bn 10-year subordinated note issue at a yield of 5.25% last Thursday.
State-owned railway operator Ukrzaliznytsia (B/B–) printed a US$500m 9.5% five-year bond on Tuesday, a deal that priced considerably wider than where the issuer had initially wanted and traded down in the secondary market, even pushing Ukrainian sovereign bonds wider, according to a trader.
Iraq is beginning to throw up significant opportunities for international investment banks as the oil-rich economy recovers from a decade of violence, with a flurry of recent deals presaging a wider opening of the country’s capital markets in coming years.
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- Investors lap up Batelco debut bond
- Gulf demand for Turkish participation banks
- Russia: Gazprom Neft follows parent into euros
- Scepticism over US$6bn Qatari IPO
- Qatar plans IPO of US$12bn fund
- National Bank of Abu Dhabi in Asia push