Asian investment-grade deals surface; Digicel bonds drop on numbers, headline news

By Paul A. Harris

Portland, Ore., Aug. 30 – A pair of Asian high-grade deals are on a trajectory to price in the Sept. 3 week, sources said.

Bangkok Bank PCL (Baa1/BBB+/BBB+) plans to commence marketing a benchmark dollar-denominated offering of bonds with an expected intermediate maturity on Monday.

Morgan Stanley and Citigroup are managing the sale.

And China General Nuclear Power Corp. (A3/B-/A-) is marketing a benchmark offering of green bonds.

The deal is coming in dollar-denominated and euro-denominated notes and set to roadshow on Monday in London.

It is expected to price during the Sept. 3 week.

Bank of China, BNP Paribas and Credit Agricole are managing the sale.

The bonds of Jamaica-based Digicel Ltd. have been dropping since midweek on news that the wireless operator’s earnings fell 2% in the quarter which ended on June 30 and on the news that chief financial officer Ray Leclercq will depart from the company just one year after taking the job.

Bonds are down two points to three points over the past two days, according to an investor who spotted the Digicel 6¾% senior notes due March 2023 at 81 bid, 82 offered on Thursday.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.