VTB Capital

Bondholders and creditors remain at loggerheads over the restructuring of Mozambique’s debt following the publication of an independent audit of the country’s debt by risk assessment firm Kroll.

Kazakhstan’s Nostrum is planning a combined debt buy-back and new issue, and will meet investors from Monday and will be hoping to emulate the success of national oil champion KazMunayGas in April this year.

Chinese property developer Modern Land (China) Co is making a comeback to the international green bond market, opening books for a short-term trade on Thursday morning.

Sanctions on Russia could be tightened following a bill that passed the US Senate nearly unanimously in mid-June, but even though some commentators are sceptical that they will be implemented, VTB head of global banking Riccardo Orcel said that it won't stop the Russian state-controlled bank’s expansion into new markets.

For emerging market bond investors, every crisis is an opportunity as inflows into the asset class continue to compress yields. Russia, commodity exporters and Mozambique are in focus this week.

Mozambique's debt saga reached an important milestone on Saturday with the publication of an independent audit of the country’s debt by risk assessment firm, Kroll. While the findings, which included $500m of unaccounted for funds, may have disappointed investors, the country’s tightly held Eurobonds were unmoved on Monday.

Russia has returned with another sole VTB led deal, its first foray into the international markets this year. Some market participants had expected US or European banks to be on the mandate, following a stronger year for Russian borrowers in the international bond markets despite sanctions still firmly in place.

Korea Water Resources Corp as well as developers Sun Hung Kai Properties and Logan Property Holdings launched new dollar deals on Tuesday morning.

Global Ports Holding, the independent cruise port operator, has set the price range for its IPO on the London Stock Exchange.

Theresa May stunned the UK on Tuesday by calling a snap general election, but equity capital markets remain calm and the next wave of IPOs is becoming more visible, with two more new deals announced this week.

Russian fertiliser producer Phosagro will meet investors from Thursday for its first Eurobond since 2013.

Unperturbed by softer markets of late, Russian steel firm Evraz was on track to print a bullish six year bond on Monday morning.