Hungary
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CEE sovereign has already met its needs for this year via January’s dollar bond and a private placement -
This would be the first new bond from a CEE energy company for over a year
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There will be more CEE issuance in June, including from an SSA issuer and corporates
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Euro market cannot compete with the pricing and size the dollar market currently offers
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Bondholders are worried about Hungary's ESG profile and further credit rating downgrades
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The euro market is still too rich for CEE FIG issuers, said one banker away from OTP
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Using the dollar market makes sense, said one banker, as US investor interest in CEE increases
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The Fed is unlikely to revise its plans as oil prices rise due to the cut in production
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Pipeline of new CEE bonds, including some from FIG issuers, is on ice until Easter
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The lender drew a book of well over $1bn for a rare dollar bond from a CEE financial issuer
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Nearly all FIG bonds outstanding from the CEE region are from Russian or Turkish issuers
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Hungary also wants to make its green bonds a darker shade of green
