Mingfa Group prices; Grupo de Cementos, RusPetro on deck; Qtel trades near par

By Aleesia Forni

Columbus, Ohio, Jan. 25 - A number of emerging markets issuers are set to kick off roadshows next week, including Mexico's Grupo de Cementos de Chihuahua SAB de CV and Russia's RusPetro plc.

Both companies will begin investor meetings on Monday ahead of proposed Rule 144A and Regulation S deals.

Russia's Agency for Housing Mortgage Lending OJSC and Turkey's Bankpozitif Kredi ve Kalkinma Bankasi AS will also be hosting roadshows during the Jan. 28 week.

Meanwhile, airline companies Emirates Airlines and Hainan Airlines Co. Ltd. began meeting with investors on Friday.

A market source commented that Emirates' pricing terms will be interesting to see, as the company's existing notes due 2016 closed the session at 235 basis points bid.

In primary action, China's Mingfa Group (International) Co. Ltd. priced a $100 million issue of 13¼% notes at par.

The secondary market saw Qatar Telecom QSC's (Qtel) $500 million of 4½% notes due 2043 trading strong at the session's open, trading at 110.625 early on before closing at 99¾ bid, par offered.

The notes priced at 97.687 on Wednesday.

Qatar Telecom is a Doha, Qatar-based telecommunications firm.

Mingfa prices

The primary market saw Mingfa Group sell a $100 million issue of 13¼% five-year notes at par, according to a market source.

The notes priced on top of talk.

Credit Suisse, Citigroup, ICBC International, Morgan Stanley and RBS were the bookrunners for the Regulation S deal.

Proceeds will be used to refinance existing debt and for general corporate purposes.

Mingfa is a property developer based in Hong Kong.

Emirates hits road

Emirates Airline kicked off investor meetings on Friday and is expected to price an offering of notes following the roadshow, a market source said.

Citigroup, Standard Chartered, Deutsche Bank, JPMorgan, Emirates NBD and Morgan Stanley are arranging the meetings.

The roadshow began in London and Singapore on Friday and will make stops in Boston and Hong Kong on Tuesday before heading to New York City on Wednesday.

The airline is based in Dubai.

Hainan meets investors

Also beginning investor meetings on Friday was China's Hainan Airlines, which started a roadshow prior to a proposed offering of Regulation S notes, a market source said.

Deutsche Bank, JPMorgan, BOCI, HSBC and ICBC are managing the deal.

Hainan Airlines is based in Haikou, China.

Grupo de Cementos eyes notes

On deck for the Jan. 28 week, Mexico's Grupo de Cementos de Chihuahua will begin a roadshow on Jan. 28 prior to a possible Rule 144A and Regulations S deal, a market source said.

The roadshow will make stops in Boston, Los Angeles, New York, London and Santiago, Chile, between Jan. 28 and Jan. 31.

BBVA, Citigroup and Scotiabank are arranging the meetings.

The Chihuahua, Mexico-based company is involved in the production, distribution, marketing and sale of cement and mortar, ready-mix concrete and other construction materials.

AHML sets roadshow

Russia's Agency for Housing Mortgage Lending is expected to issue ruble-denominated notes following a roadshow beginning on Monday, a market source said.

The company has tapped Citigroup, Deutsche Bank, Raiffeisen and VTB for the investor meetings.

The mortgage loan services provider is based in Moscow.

Bankpozitif Kredi plans notes

Also in the pipeline, Turkey's Bankpozitif Kredi ve Kalkinma Bankasi will host investor meetings Jan. 30 and Jan. 31 ahead of a proposed dollar-denominated Regulation S-only note offering, a market source said.

Citigroup and RBS are arranging the meetings.

The provider of corporate and retail banking services is based in Istanbul.

RusPetro taps bookrunners

Russia's RusPetro is also planning a deal and has mandated Bank of America Merrill Lynch, Credit Suisse and Deutsche Bank for roadshow ahead of a possible Rule 144A and Regulation S offering of dollar-denominated notes, according to a market source.

The roadshow will run Jan. 28 through Feb. 1, and proceeds will be used for general corporate purposes and to repay the company's term loan.

RusPetro is a Moscow-based oil and gas producer.

Christine Van Dusen contributed to this review.

© 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.