Emerging European debt markets start to come in from the cold

Increased issuance from eastern European banks has provided investors with an opportunity to find va...

Increased issuance from eastern European banks has provided investors with an opportunity to find value within the bond markets, at a time when investment grade corporate debt is seen by many as overvalued. Five years ago, the biggest eastern European banks were state owned and a number of the issuers we see today did not even exist. Looking back only three years, many of these financial institutions were still too small and had no access to international bond markets for funding. So what has changed? Following a rise in economic growth, private wealth and political stability, banks in co...