Poland
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Bank Gospodarstwa Krajowego (BGK), Poland's state development bank, has set the reoffer spreads for its seven and 12 year euro bonds. Combined books are in excess of €800m, evenly split between the tranches. -
Bank Gospodarstwa Krajowego, the State Development Bank of the Republic of Poland, is marketing a dual tranche euro bond.
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JP Morgan's launch of an environmentally and socially conscious version of its EMBI index is well timed, as fund managers realise that dodgy morals can lead to shabby financial statements.
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PKO Bank Hipoteczny may not have attracted the most overall demand in Thursday’s packed issuance window, but its covered bond was notable for having the highest spread and strongest subscription ratio of the five deals in the market.
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The primary market was quiet on Wednesday, but activity looks set to improve as a trio of issuers from Poland and Germany mandated joint lead managers for benchmark covered bonds — to be issued in euros and sterling on Thursday.
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Deal flow in Central and Eastern Europe (CEE) is picking up, according to international loan bankers, with more pre-export finance facilities from Russia and some anticipated event driven transactions in the rest of the region.
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The Republic of Poland exceeded its own and its leads’ hopes when it issued its second green bond this week. Piotr Nowak, undersecretary of state at Poland's finance ministry, told GlobalCapital that with 41% of green accounts participating, the sovereign had succeeded in diversifying its investor base.
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The Republic of Poland has set final terms for its €1bn 8.5 year green bond, with books over €3.4bn at the last market update. A banker away from the deal called the final level tight.
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The Republic of Poland, which issued the world’s first sovereign green bond, has returned for another bite of the apple, naming leads for a new issue.
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The People’s Bank of China announces new rules to promote cross-border RMB transactions, HSBC plans to launch a new service in Poland to capture business opportunities related to the Belt and Road Initiative, and Agricultural Bank of China obtained approvals for new branches in Southeast Asia.
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Globalworth Real Estate Investments, the Aim-listed real estate investment trust focused on Poland and Romania, is pushing ahead with its proposed €300m capital increase, after securing the backing of several cornerstone investors.
