Fixed income securities

One of the four winners of a recent auction for nationwide television licenses, Yiannis Kalogritsas, on Monday sought an extension of 48 hours to pay the first tranche of the fee for the license, a request that was rejected by the Media Ministry, potentially paving the way for his disqualification and replacement by a runner-up in the competition.

Bulgaria won't issue further Eurobonds this year after successfully issuing a EUR 1.994 B dual-tranche bond earlier this week, GlobalCapital has reported.

The deal was consisting of a EUR 1.144 B seven-year tranche and a EUR 850 M 12-year tranche.

Bulgaria is selling a EUR 1.994 B dual-tranche bond, Reuters reported on Monday, citing a lead manager.

The transaction comprises a EUR 1.144 B seven-year tranche and a EUR 850 M 12-year tranche, the newswire said.

Greek Finance Minister Yanis Varoufakis said on Thursday that his government was not ready to sign any deal just to get the next loan tranche from its creditors but needs to agree an appropriate level for its primary surplus, an investment package and a serious discussion about debt.

Prime Minister Alexis Tsipras will send a clear message that if the problem of the country’s financing remains unsolved until the end of the week or by the 8th of April, then the government will choose to leave the IMF tranche unpaid in order to be able to pay salaries and pensions.

Bulgaria has sold a EUR 3.1 B triple-tranche bond comprising of seven-, 12- and 20-year maturities on foreign markets, the Finance Ministry said on Friday.

The volume is the biggest amount of debt issued by a country in the region of Central and Eastern Europe, the Middle East and Africa (CEEMEA) through a single syndicate of banks, the Finance Ministry said in a statement.

Bulgaria is marketing euro bonds in three lots maturing respectively in seven, 12 and 20 years, Reuters reported on Thursday.

"The seven-year bond is being offered to investors at mid-swaps plus 195bp area, the 12-year tranche at mid-swaps plus 225bp area while the longest tranche is being offered to investors at mid-swaps plus 260bp area," the newswire said.

The Ministry of Finance announced on Sunday that the International Monetary Fund board of directors approved the second and third review of the Extended Fund Facility (EFF), allowing the disbursement of two tranches of an IMF loan worth 53 million euros.

"The Excecutive Board of IMF approved the review on 20 February 2015," the Ministry of Finance said in a press release.

Fitch Ratings has placed Piraeus Bank’s mortgage-covered bonds’ B+ rating on Rating Watch Evolving (RWE).

The rating action follows the segregation of new assets that the issuer put into the cover pool last week.

Turkey's Finansbank, owned by National Bank of Greece, said on Tuesday it secured a syndicated loan in two tranches of $397 million and 356 million euro ($442.6 million).

The loans will be used to finance foreign trade and has a maturity of 1 year, said the statement to the Istanbul stock exchange. [Reuters]