Ghana, AngloGold bring new issues; HanKore Environment eyes deal, sets price talk

By Aleesia Forni

Virginia Beach, Va., July 25 - Ghana and AngloGold Ashanti Holdings plc were in the primary market in the emerging markets space with new issues on Thursday, market sources said.

Ghana brought a $750 million issue of 10-year notes during the session, while South Africa's AngloGold hit the market with $1.25 billion 8½% seven-year notes.

AngloGold's notes were sold at par and priced at the tight end of talk.

Away from the new issue space, HanKore Environment Tech Group Ltd. announced its plan to price a two-year issue of Singapore dollar-denominated notes.

Beijing-based HanKore set talk in the area of 7½%.

The company held a roadshow in June before establishing a S$300 million multicurrency medium-term note program earlier during the week.

Also during Thursday's session, terms were given on the recent $1.5 billion sale of notes from Bahrain.

The sovereign sold the 6 1/8% 10-year notes on Wednesday.

AngloGold sells $1.25 billion

The primary market saw AngloGold price $1.25 billion 8½% seven-year notes at par on Thursday, according to a company news release and an FWP filing with the Securities and Exchange Commission.

Price talk was set at 8½% to 8¾%.

The SEC-registered notes will be non-callable for three years.

Citigroup Global Markets Inc., Deutsche Bank Securities Inc. and Goldman Sachs & Co. acted as the joint bookrunners.

The company plans to use the proceeds to repurchase its 3½% guaranteed convertible bonds due May 2014, as well as for other general corporate purposes.

The notes feature a put at 101% in the event of a change of control that leads to a ratings downgrade.

AngloGold Ashanti is a Johannesburg-based gold producer.

Ghana new issue

In another deal from Thursday, Ghana priced a $750 million issue of 10-year notes to yield 8% on Thursday, according to a market source.

Price guidance was set at 8 1/8%.

No other details were immediately available at press time.

Barclays and Citigroup were bookrunners for the Rule 144A and Regulation S deal.

HanKore sets talk

HanKore Environment was added to the pipeline on Thursday, having set talk for a planned two-year issue of Singapore dollar-denominated notes in the area of 7½%, according to a market source.

DBS Bank Ltd. is the bookrunner for the Regulation S offering.

HanKore is a Beijing-based company that invests and operates in the water environment sector.

Bahrain gives terms

In other market news, Bahrain priced $1.5 billion 6 1/8% 10-year notes on Wednesday, according to a syndicate source.

The notes priced at 99.447 to yield 6.2%.

BNP Paribas, JPMorgan, Citigroup and Gulf International were the bookrunners.

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