The material on this site is for financial institutions, professional investors and their professional advisers. It is for information only. Please read our Terms & Conditions, Privacy Policy and Cookies before using this site.

All material subject to strictly enforced copyright laws. © 2021 Euromoney, a part of the Euromoney Institutional Investor PLC.
Capital Markets

Debt capital markets: CIS financials target Asian investors

Cash-rich investors are looking to put their money to work

Financial borrowers from the former Soviet Union raised billions of dollars on the international bond market in June in deals targeting Asian investors. These borrowers are capitalizing on the relative lack of yield and supply in Asia, where investors have plenty of cash to burn. Home & Credit Finance Bank, a Czech-owned Russian consumer finance bank, raised a $275 million three-year bond on June 17. Lead managers ING Bank and Merrill Lynch managed to sell 30% of the deal to Asian investors.

In the same week, Ukraine's Ukrsibbank raised $125 million via a three-year bond issue, co-lead managed by Deutsche Bank and UBS. "We roadshowed the deal in Asia and found good demand there, selling 10% of the deal to Asian investors," says Richard Luddington, head of CEEMEA debt capital markets at UBS.

Other CIS banks preparing deals say they intend to tap the same investor pool. Bank TuranAlem chairman Saduakas Mameshtegi told reporters at the European Bank for Reconstruction and Development's annual meeting in Belgrade that his institution is preparing a $350 million three-year floating-rate note transaction, and that "we are counting on investors in southeast Asia."

William Weaver, director of CEEMEA debt origination at Citigroup, says: "Asian demand is certainly growing steadily."

You have reached premium content. Please log in to continue reading.

Read beyond the headlines with Euromoney

For over 50 years, our readers have looked to Euromoney to stay informed about the issues that matter in the international banking and financial markets. Find out more about our different levels of access below.

SUBSCRIBE ONLINE TODAY

Unlimited access to Euromoney.com and Asiamoney.com

Expert comment, long reads and in-depth analysis interviews with senior finance professionals

Access the results of our market-leading annual surveys across core financial services

Access the results of our annual awards, including the world-renowned Awards for Excellence

Your print copy of Euromoney magazine delivered monthly

£73.75 per month

Billed Annually

FREE 7 DAY TRIAL

Unlimited access to Euromoney.com and Asiamoney.com, including our top stories, long reads, expert analysis, and the results of our annual surveys and awards

Sign up to any of our newsletters, curated by our editors

LOGIN NOW

Already a user?

We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree