Issuer: Eesti Uhispank (Union Bank of Estonia)
Amount: Dm350 million
Programme launched: June 2 1997
Arranger: Chase Manhattan
When the Asian currency crisis spilled over into the rest of the world’s emerging markets, bankers agreed on one thing: borrowers from many regions could forget about new Eurobond issues for the rest of the year.
Europe’s Baltic states were badly hit. In Estonia, the leader of the Baltic pack, the Tallinn Stock Exchange lost more than 40% of its value between the end of August and the beginning of November.
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