Emerging markets quiet; Atlas prices $300 million notes; Doha Bank bonds trade near 99.55

By Aleesia Forni

Columbus, Ohio, March 12 - Emerging markets saw an overall quiet session on Monday, according to a London-based trader.

Atlas Consolidated Mining and Development Corp. priced a $300 million issue of notes, while Doha Bank's recent five-year bonds were still trading fairly well, according to a market source.

Atlas grabs $300 million

The primary market saw Atlas Consolidated Mining and Development's wholly owned subsidiary, Carmen Copper Corp., price $300 million of 6½% five-year and five-days fixed-rate notes at 98.95 to yield 6¾%, according to a company press release.

Initial guidance was set in the 6¾% area.

BDO Capital & Investment Corp. and Credit Suisse Securities (Europe) Ltd. were the joint bookrunners for the Regulation S offering.

Proceeds will be used to refinance existing debt, to fund capital expenditures and for other general corporate purposes.

Mandaluyong, Philippines-based Carmen Copper engages in searching, exploring, mining and processing ores and mineral resources in the Philippines.

Doha Bank doing 'pretty well'

In the secondary market, Doha Bank's recent $500 million issue of 3½% bonds was still trading "pretty well," according to a market source.

The notes saw European retail demand near 99.55 bid during London's morning session, though it has yet to surpass its high point of 99.60.

The Qatar-based lender priced the bonds at a 262.5 basis points spread to mid-swaps on Wednesday, and the issue priced at 98.964.

Agile considers deal

On the horizon, Agile Property Holdings Ltd. plans to conduct an international offering of dollar-denominated senior notes and will commence a series of meetings with institutional investors, according to a company press release.

HSBC, Standard Chartered Bank and UBS are joint lead managers and joint bookrunners.

The notes will not be registered under the Securities Act and will not be offered in the United States.

Agile intends to use the proceeds for the purchase of new land sites, for refinancing and for general working capital purposes.

General Shopping eyed

Also heading to market soon, General Shopping Brasil SA (Ba3/BB-) plans to meet with investors ahead of a possible dollar-denominated offering of subordinated perpetual preferred shares, according to a market source.

Bank of America Merrill Lynch and Goldman Sachs are the bookrunners for the proposed Regulation S offering.

Sao Paulo-based General Shopping is one of the largest shopping mall companies in Brazil.

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