Banks

Ratings agency Moody's has said it has upgraded the long-term foreign currency deposit ratings of 12 Turkish banks.

Advance Media Group, a subsidiary of the investment group Advance Properties, jointly owned by Kiril Domuschiev and Georgi Domuschiev, is in talks with United Group, the leading provider of telecommunications services and media in Southeast Europe, on the possible sale of the largest multi-platform media house in Bulgaria - Nova Broadcasting Group.

National bank will release gold coin "Rozhdestvo Hristovo".

As of December 7, 2020, the Bulgarian National Bank will release a gold commemorative coin on the theme of "Rozhdestvo Hristovo" (Birth of Christ) from the series "Bulgarian Iconography". The price of the coin is 1300 BGN.

It will take at least two years for one in every three enterprises in Greece to revert to the profit levels they had before the advent of the pandemic, while one in every five believes it will need three or four years, according the annual Navigator survey that HSBC has conducted in 39 countries.

Constantinos Herodotou, the governor of Cyprus' central bank and a member of the Governing Council of the European Central Bank, has tested positive for Covid-19, he said.

Writing on his Twitter account, Herodotou said he had self-isolated and was working from home.

He tested positive after contact tracing, he said.

[Reuters]

The Central Bank of the Republic of Turkey (CBRT) on Nov. 27 revised its regulations on reserve requirements to improve the effectiveness of the monetary transmission mechanism in the country.

In line with its main objective of price stability through monetary tightening, the bank decided to simplify its reserve requirement regulations, it underlined in a written statement.

The Turkish Treasury and Finance Ministry on Nov. 25 said its issuance of a dollar-denominated bond due in 2031 finalized with a nominal amount of $2.25 billion, seeing high demand from international capital markets.

As part of the 2020 external financing program, Goldman Sachs, HSBC and Morgan Stanley were authorized on Nov. 24 to issue the bonds.

The management of Piraeus Bank has announced a program to boost its capital base by 1 billion euros to create the cash reserves that will allow it to proceed with a more aggressive reduction of its bad-loan portfolio.

While informing analysts of the bank's third-quarter financial results, Chief Executive Christos Megalou said that the cash boost plan has four main points.

Demand for a new 10-year bond Greece issued on Tuesday has exceed the amount of 15 billion euros, sources told Reuters.

New quidance was set at mid-swaps plus 160/165 basis points.

BNP Paribas, BofA Securities, Deutsche Bank, Goldman Sachs International Bank, HSBC and J.P. Morgan act as joint lead managers for the new issue, maturing in June, 2030. [Reuters]

Greece opened books for a new ten-year bond issue, a lead manager told Reuters on Tuesday.

Guidance was set at mid-swaps plus 170/175 basis points.

BNP Paribas, BofA Securities, Deutsche Bank, Goldman Sachs International Bank, HSBC and J.P. Morgan act as joint lead managers for the new issue, maturing in June, 2030. [Reuters]