CEEMEA region sees new deals; Grupo Bimbo joins calendar, Minerva, Gilex still sidelined

By Rebecca Melvin

New York, April 2 – The Central & Eastern Europe, Middle East and Africa region saw a flurry of deal announcements on Tuesday including three from the Middle East and one from Kazakhstan’s state-owned oil and gas company as the European financial markets reopened following the Easter holiday.

Asia remained fairly active and Mexico’s Grupo Bimbo SAB de CV announced a hybrid security is starting a roadshow with a potential deal to price next week. Other deals on the Latin America calendar remained sidelined however as volatility, including a roller coaster ride in U.S. equity markets, continued.

Minerva SA, which announced a planned deal two weeks ago, is continuing to roadshow its dollar-denominated perpetual note and is monitoring the market, a syndicate source said.

Back in the CEEMEA region, Qatar’s Mannai Corp. QPSC stepped out ahead of the Qatar sovereign with plans for a new dollar-denominated perpetual note that was going to roadshow starting on Wednesday.

Also from the Middle East, Dubai’s Damac Real Estate Development Ltd. has selected banks and scheduled fixed-income investor meetings for a new U.S. dollar-denominated sukuk with a five- or seven-year maturity.

In addition, Egypt has scheduled a series of fixed-income investor meetings regarding a benchmark offering of euro-denominated notes.

And in Kazakhstan, KazMunayGas has selected banks and scheduled fixed-income investor meetings for a possible U.S. dollar-denominated benchmark notes.

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