Swiber does deal; Arcelik sets talk; corporates line up roadshows; Russia, Ukraine in focus

By Christine Van Dusen

Atlanta, Sept. 8 – Singapore’s Swiber Holdings Ltd. sold notes on Monday as investors continued to eye the conflict in Ukraine and the possibility of further sanctions against Russia from the European Union.

Russian bonds opened mostly unchanged on Monday, following some late-afternoon weakness on Friday, a London-based trader said.

Week over week, Russia’s bonds moved higher, with the 3 5/8% notes due 2015 trading Monday at 101.38 bid, 101.88 offered after last week’s 101.19 bid, 101.59 offered.

The sovereign’s 3¼% 2017 notes were seen Monday at 102¼ bid, 102¾ offered after trading the previous week at 101.38 bid, 101.88 offered.

And the 5 7/8% 2043s – seen last week at 98¾ bid, 99¾ offered – traded Monday morning at 102 bid, 103 offered.

Elsewhere in emerging markets, bonds from Africa and Turkish banks were strong performers during the early session, he said.

Looking to Latin America, client activity was somewhat subdued on Monday, though volumes were “decent,” a New York-based trader said.

In deal-related news, Turkey’s Arcelik AS set initial talk in the 4 1/8% area for its upcoming issue of euro-denominated notes due in seven years.

Indonesia’s PT Mitra Pinasthika Mustika Tbk has mandated Deutsche Bank to lead a roadshow to market a Regulation S issue of dollar notes.

Malaysia’s Cagamas Bhd. will depart on Sept. 10 for a roadshow to market a renminbi-denominated issue of notes.

And Islamic Development Bank will set out on Sept. 11 for a roadshow to market a dollar-denominated issue of Islamic bonds.

© 2015 Prospect News.
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