Emerging markets active; Commercial Bank of Qatar trades at 98.95 bid; VTB Capital prices

By Aleesia Forni

Columbus, Ohio, April 4 - Trading was "very active" in the emerging markets space on Wednesday, due partially to the new bonds from Commercial Bank of Qatar Ltd., according to a market source.

The deal traded at 98.95 bid, 99.05 offered near the end of London's session.

To recap, the bank priced $500 million 3 3/8% five-year bonds to yield mid-swaps plus 235 basis points on Tuesday.

The notes priced at 98.992 to yield 3.597%.

In the primary market, VTB Capital SA priced $1.5 billion 6% notes at par, while Globo Comunicacao e Participacoes SA launched a $300 million 10-year issue.

VTB senior notes

VTB Capital (Baa1/BBB/BBB) priced a $1.5 billion issue of 6% five-year senior notes at par, according to a buyside source.

Citigroup, ING, VTB Capital and Citi were lead managers on the Rule 144A and Regulation S deal.

VTB Capital is a Moscow-based investment bank.

Globo 10-year bond

On Wednesday Globo (Baa2/BBB/BBB+) launched a $300 million 5% 10-year senior unsecured bond, according to a buyside source.

Proceeds will be used for general corporate purposes.

HSBC and Itau BBA are bookrunners for the Rule 144A and Regulation S deal.

The media company has headquarters in Rio de Janeiro.

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