Published: January 13, 2014
Eastern Europe sovereigns become CEEMEA’s first debt-market issuers of 2014.
Two sovereign borrowers in Central and Eastern Europe have moved fast to secure funding from international investors this year.
Poland opened the Central and Eastern Europe, Middle East and Africa (CEEMEA) bond market on January 8 with a 10-year, €2bn (US$2.7bn) issuance managed by BNP Paribas, Citi, Societe Generale and UniCredit. The paper was priced with a yield of 3.032%.
More than 90% of the book was placed with international investors, with investors from Germany, Austria, Scandinavia and the UK buying the majority.
Close behind the Polish sovereign was the Slovak Republic, which sold €1.5bn of 15-year paper with a yield of 3.655%. Natixis, UniCredit and Erste Group’s Slovenská sporitea ran the deal.