Page 27 - bne_newspaper_November_16_2018

Weekly Lists
November 16, 2018 www.intellinews.com I Page 27
bne:Credit
Russia's Gazprom preparing 5-year Eurobond issue despite sanctions
Russia's natural gas giant Gazprom is preparing to issue a five-year euro-denominated Eurobond, unnamed financial market sources told Reuters on November 12. Reportedly Gazprombank, JP Morgan and Unicredit will manage and bookrun the issue.
Earlier Reuters claimed that Gazprom managed to borrow €3.4bn and RUB58bn ($859mn) from international banks despite previous reports that the company halted international borrowing amid sanction risks and an ongoing legal dispute with Ukrainian gas company Naftogaz.
Gazprom had to call off a roadshow for a potential GBP Eurobond issue in the middle of June needed to refinance $15.2bn in external debt by the end of 2018. Other sources claimed that Gazprom had also had to call off the planned euro and Japanese yen Eurobond planned this autumn.
Turkish state-owned lender Ziraat Bankasi has mandated its headquarters to conduct the legal and operational processes to issue up to $2bn worth of FX or TRY-denominated asset-backed or mortgage-backed bonds, the lender said late on November 13 in a stock market filing.
Although Ziraat Bankasi said in its statement that the planned issues would be held at home or abroad, “Overseas” was ticked on the filing form.
Fitch Ratings on October 1 downgraded the bank to B+ with
a negative outlook. On September 26, Moody’s Investor Services downgraded the long-term foreign currency deposit rating of Ziraat Bankasi to B2 with a negative outlook.
Montenegro’s net public debt stood at €3.09bn at the end of Sep- tember, equalling 67.19% of the projected full-year GDP forecast, finance ministry final data showed on November 14. Three months earlier, the debt was equal to 67.43% of GDP according to revised data. At the end of 2017, the public debt was equal to 62.5% of GDP.
The country's public debt has increased sharply since 2008 when it stood at just 29% of GDP. The debt to GDP ratio was initially expected to reach 74.4% of GDP in 2017 and 77.87% of GDP in 2018. However, the government took several measures aiming to reduce it.
Turkish state’s Ziraat Bankasi to issue up to $2bn of loan-backed bonds
Montenegro’s public debt falls to 67.19% of GDP in January- September