Morocco brings eurobond; Indonesia, Al Hilal on deck; Vakifbank firms; Turk Telekom wider

By Aleesia Forni

Virginia Beach, June 13 – Morocco priced an offering of eurobonds during a mostly quiet Friday session for emerging markets.

The €1 billion offering came around 10 basis points tighter than talk.

In other sovereign news, Indonesia also announced plans to sell a euro-denominated offering on Friday, a source said.

Abu Dhabi-based Al Hilal Bank also joined the forward calendar on Friday.

The bank announced plans to kick of a roadshow next week ahead of an offering of tier 1 perpetual bonds.

The secondary market saw both tranches of the recent Turkey’s Turk Telekomunikasyon AS deal selling off early during Friday’s session, a London-based analyst said.

In other trading from that region, a source saw Turkiye Vakiflar Bankasi TAO’s (Vakifbank) recent €500 million offering of 3˝% five-year bonds trading better to close the week.

The bonds sold with a spread of Treasuries plus 292 bps on Tuesday.

Christine Van Dusen contributed to this review.

© 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.