Croatia
-
Hopes rise that EM primary bond market is coming back to life -
South Africa brings long awaited dollar offering as Croatia mandates banks
-
Serbia and Croatia issued euro-denominated bonds this week. Market participants said the deals showed there was strong appetite for the right kind of sovereign credits.
-
Croatia was set to price a bond in euros on Thursday, following two other EM sovereign issuances in the currency this week.
-
Serbia entered the bond market on Wednesday to sell a bond in euros, after entering both dollar and euro markets last year. Fellow Balkan sovereign issuer Croatia is expected to follow it, tapping investors as early as Thursday.
-
The Baltic covered bond market is expected to take another stride forward with the advent of Latvia’s draft law, which currently is being debated in parliament. At the same time, the European Bank for Reconstruction and Development (EBRD) has been working closely with the Bulgarian, Croatian and Ukrainian authorities to help develop the basis for their own covered bond laws.
-
The European Central Bank will begin supervising financial institutions in Bulgaria and Croatia from October 1, as the two countries prepare to join the euro. Firms entering the Banking Union for the first time will also fall under the Single Resolution Board’s remit for the minimum requirements for own funds and eligible liabilities (MREL).
-
The Republic of Croatia launched its €1.5bn 10 year bond on Wednesday afternoon in London from a book of €6.4bn at a level 7bp inside of fair value, according to a lead manager on the note.
-
Croatia’s Uljanik Plovidba has hammered out a loan refinancing that includes “significant” debt relief, throwing a lifeline to the cash-strapped ship builder.
-
Croatia’s Sunce Koncern has signed a €73m club loan from mostly domestic lenders, as the tourism company restructures its entire balance sheet.
-
-
The Republic of Croatia pulled pricing for its €750m 2.7% 2028 bond 30bp tighter than initial price guidance on Wednesday, bringing the reoffer spread nearly flat to the outstanding curve.
