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Weekly Lists
September 1, 2017 www.intellinews.com I Page 24
bne:Credit
Lead managers of Tajikstan's debut US dollar bond to kick off US, Europe roadshow
Joint lead managers of Tajikistan’s debut 10-year dollar- denominated eurobond, Citigroup and Raiffeisen Bank International, kicked off a roadshow across Europe and the US on August 31.
Tajikistan is preparing the benchmark offering “with no guarantee from any external organisation”, the Financial Times reported on August 29, citing an anonymous source. The report suggested the debut might take place as early as next week. Tajikistan is rated B- by S&P and B3 by Moody’s and both deem the country as having a stable outlook.
The pricing for the Tajik bond is expected to be guided by Belarus’ 10-year tranche at 7.625%. The bond is also expected to be at
a volume of $500mn with a weighted average life of 8.75 years. The proceeds from the eurobond will go towards financing the construction of the Rogun hydropower dam.
The National Bank of Ukraine (NBU) continues to gradually ease capital controls imposed by the government in the wake of the economic crisis in the country, allowing banks to provide loans in domestic currency against the collateral of FX holdings held in customers’ accounts, the regulator said on August 29.
The NBU imposed capital controls in 2014, when the currency and economy went into meltdown, and is able to ease the measures now the situation has stabilised.
Previously, banks were prohibited from extending loans in domestic currency to the customers (including under the opened credit lines and through rollover of previously extended loans), if the property rights for the foreign currency held in the accounts with the banks were pledged as collateral for such loans.
Out of 330,000 Croatian bank customers that failed to pay back their consumer loans, only two personal bankruptcy procedures have been initiated, 24sata.hr reported. The bill came into force in January 2016.
The new legislation on consumer bankruptcy took effect on January 1, 2016, and the law aimed to give over-indebted citizens a chance for a fresh start and offer them an opportunity to repay debts in a controlled manner.
Ukraine central bank eases capital controls on hryvnia credits
Croatia’s personal bankruptcy law proves ineffective