Romania

When UK telecoms company Vodafone announced in May that it had agreed to buy some of US rival Liberty Global’s European operations, it said it would use existing cash, €3bn of mandatorily convertible bonds and new debt, including hybrid bonds to fund the €18.4bn acquisition. On Wednesday, Vodafone sold the hybrid bonds, using four different tenors in three currencies. Nigel Owen reports.

Romania

In a rare instance for CEE countries, Romania has printed 30 year dollar bonds.

Romania has released initial price guidance for a dollar bond offering around a 30bp-40bp pick-up over its outstanding curve, according to a banker away from the deal.

Romanian supermarket chain Profi is in talks with banks to add to its €305m loan, signed in March last year.

Two central and eastern European corporates announced euro trades on Friday, adding to a busy pipeline of emerging markets deals.

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.

Romania issued €2bn of new debt with a dual tranche offering on Thursday, taking the largest portion of funds with a new 20 year bond.

Republic of Romania offered investors a rare opportunity to buy sovereign debt from central and eastern Europe with a three digit spread on Thursday.

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.

Central and eastern European real estate company Nepi raised €500m with its first trade as the newly formed Nepi Rockcastle on Thursday.

Central and eastern European real estate giant Nepi opened books on its first deal as newly formed Nepi Rockcastle on Thursday morning.