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Weekly Lists
June 28, 2019 www.intellinews.com I Page 25
bne:Credit
Turkish state's Vakifbank sells $150mn of 5-year eurobonds
Turkish state-run lender Vakifbank has completed the issuance of $150mn worth of 5-year eurobonds via private placement to quali- fied institutional investors abroad, the lender said on June 25 in
a stock exchange filing.
The lender did not provide information on the cost of the paper.
Also on June 25, Vakifbank said in a separate filing that it has repurchased a nominal $5mn of its eurobond maturing in 2022 (with ISIN code XS0849728190).
On June 21, the lender said in a filing that Fitch Ratings had affirmed its long-term foreign currency rating at B+/Negative.
On June 24, Global Capital reported that Turkish President Recep Tayyip Erdogan’s Istanbul revote defeat could open the bond issu- ance window for Turkish borrowers.
Serbia is considering issuing more Eurobonds on international markets before the end of 2020 in order to raise funds for a planned new large investment cycle, Reuters reported on June 25 quoting Finance Minister Sinisa Mali.
Earlier in June, Serbia sold a €1bn euro-denominated bond and will use the funds to finance the early redemption of $1.1bn of US dollar-denominated Eurobonds. However, the proceeds of the next issue would be used for funding a new large investment cycle re- cently announced by President Aleksandar Vucic.
“In the next 12-18 months we will reconsider coming back to the market again, not for budgetary purposes but for specific project financing purpose,” Mali was quoted as saying on the sidelines of an investment conference at Bloomberg in London.
The board of the Czech National Bank (CNB), as expected, kept inter- est rates unchanged on June 26. The main repo rate thus remains at 2%, the discount rate at the 1% and the Lombard rate at 3%.
After the meeting and a following press conference, the Czech crown appreciated by 0.2% to its nine-month peak at CZK25.437 for EUR, Patria.cz reported on June 26.
According to the CNB governor Jiri Rusnok, six out of seven board members voted in favour of keeping the interest rates unchanged, while one voted for a 0.25pp increase.
Serbia considers issuing new Eurobonds to fund planned investment cycle
Czech National Bank leaves interest rates unchanged, crown soars on the decision