VTB Capital
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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.
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Aeroflot, the flag carrier of Russia, has finished the first leg of a jumbo recapitalisation backed by the Russian government, amid turmoil in the airline industry due to the Covid-19 global pandemic.
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Norilsk Nickel, the Russian metal and mining company, was set to issue a benchmark dollar bond on Thursday evening, just months after it was found responsible for a series of major diesel spills.
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Nick Hutt has been appointed chairman of the management board at VTB Bank (Europe), and Mark Richardson will replace him as chief executive of VTB Capital’s UK arm, subject to regulatory approvals.
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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.
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Veon, the emerging markets telecommunications firm, has mandated for a rouble bond issue, six months since its last trade, a hard currency offering.
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New emerging market bond issues have been assessed on a case-by-case basis this week as the spread of the Covid-19 virus delivered sharp swings in global markets. Some borrowers wanted to forge ahead in case of a further sell-off, while others prefer to wait for a recovery.
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New emerging market bond issues are being assessed on a case by case basis as a split between those issuers keen to forge ahead and those preferring to delay emerges.
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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.
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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.
