Gazprombank

Gazprom, the Russian state oil and gas company, this week sold a dollar bond amid growing concerns about US sanctions on the controversial Nord Stream 2 pipeline project, a wholly-owned subsidiary of Gazprom.

Sovcombank, one of Russia's largest private banks, this week raised its debut social bond — still a rare format among emerging markets borrowers in the Europe, Middle East and Africa region. The bond follows an ESG loan the bank raised just weeks ago.

Diversification has taken hold in central Asia's Uzbekistan, which over the last two years has started its pivot towards international capital markets. According to sources, a plethora of debut deals is expected to hit markets in coming months.

The Republic of Uzbekistan, which debuted in international debt markets just last year, sold a dual currency bond this week, as foreign investors eyed up an Uzbek som tranche.

The Russian Federation and the Republic of Hungary brought euro-denominated trades on Thursday, taking the opportunity to get funding done during good conditions in the run-up to the US Thanksgiving holiday, after which liquidity is expected to dry up.

Norilsk Nickel, the Russian metal and mining company which has found itself under heightened scrutiny in recent months after a series of major oil spills, is set to raise a dollar denominated benchmark bond this week. Russian telecom major Veon was also in the market for its second rouble offering in recent months.

Emerging market investors are anticipating a wave of corporate and FIG issuance from across the CEEMEA region, which they say will be welcomed with open arms. Russian petrochemical company Sibur is the latest such borrower looking to being a new bond, hosting investor calls on Monday.

After a run of sovereign issuance, emerging market investors got their first taste of corporate paper since the Covid-19 coronavirus crisis struck bond markets.

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GTLK Europe, an air and sea vehicle lessor, has priced a seven year unsecured bond — its longest dated deal to date. It paid a premium to investors, but won praise for steering the transaction through a market that had recently been shuttered due to Covid-19 chaos.

GTLK Europe, an aircraft and ship lessor, was offering a healthy new issue premium for a benchmark seven year bond in dollars on Tuesday, with the Covid-19 outbreak still casting a shadow over global financial markets.

Gazprom returned to the Eurobond market for the first time in a year on Tuesday, pulling in $4bn of orders at one stage in the pricing process, despite the US sanctioning a Rosneft subsidiary.