Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Review > Headlines for 2017 > News item |
Morning Commentary: EM mostly quiet; Oman’s Mazoon Electricity to price $500 million Sukuk
By Rebecca Melvin
New York, Nov. 1 – The emerging markets were mostly quiet early Wednesday ahead of widely anticipated news headlines expected later in the week and as the All Saints Day religious holiday in Europe thinned the ranks of market participants at their desks.
Deals kept trickling though the primary market however. In the Middle East and Africa region, Oman’s Mazoon Electricity Co. SAOC planned to price a $500 million 10-year Sukuk on Wednesday to yield 5.2% to 5.25% later Wednesday.
There was also a Credit Europe Bank NV transaction for Tier 2 notes expected to price Thursday and three deals on roadshow, a London-based market source said.
The primary market for emerging markets was expected to remain firm after a pretty robust October in which deals saw high investor demand with many significantly oversubscribed. The secondary market was also strong aside from pockets of weakness related to geopolitical tensions and other uncertainty. Specifically, Turkish banks and Qatar were weaker in recent trading.
Meanwhile market players were awaiting news on the U.S. tax reform package that was expected to be unveiled on Thursday, a day late, as well as word on president Donald Trump’s choice for next Fed chairman also on Thursday.
© 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.