Keep the equity issues coming …
Since the Asian crisis, bond issuance in central and eastern Europe has been at a standstill. Spreads on outstanding issues have been volatile and have generally widened. The flight to quality has created a very thin market. So who will be able to issue in the year ahead? And who will buy the bonds? So far, the answer is not clear-cut.
The market turmoil has caused a large backlog to build up.
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