Bulgaria’s first Eurobond sale since 2012 is proving resistant to the country’s biggest bank failure in 17 years as low debt levels reassure investors.
When Polish central bank Governor Marek Belka spoke at a conference in London two years ago, he was at the top of his game, even chastising more developed countries for causing the financial crisis.
Since Ukraine’s territorial integrity started crumbling in March, the nation’s bonds have outperformed regional peers. For Landesbank Berlin Investment GmbH, that’s unsustainable.
OAO Sberbank is awaiting the market response to plans for selling a euro-denominated bond as tension flares between Russia and Ukraine.
Russia’s military intervention in Ukraine’s Crimean peninsula is bolstering the regional government’s ability to repay its lone bond, a $14 million note maturing in three months, according to a German creditor.
The prospect of fresh euro-region monetary stimulus is prompting OAO Alfa Bank’s owner to sell Russia’s first Eurobond since President Vladimir Putin’s Crimea incursion in March.