Votorantim, Tan Chong, PTTEP scheduled roadshows for week ahead; spreads mostly tighter

By Aleesia Forni

Virginia Beach, June 6 – New deal announcements from Votorantim Industrial SA, Petrol dd Ljubljana, Tan Chong International Ltd. and PTT Exploration and Production PCL closed out a fairly active week for emerging markets bonds.

“All told, a solid week,” a trader said.

All four potential issuers announced marketing trips for the new deals, with each expected to kick off at the beginning of the week ahead.

In the secondary market, spreads were mostly tighter overall to wrap the first full week of June, sources said.

Bonds from Dar al-Arkan and National Bank of Abu Dhabi were also active this week, with a trader noting the latter’s performance as “impressive.”

National Bank of Abu Dhabi’s bonds due 2020 were around 3 basis points tighter on Friday.

He also noted that bonds from Investment Corporation of Dubai “have been heavy lately.”

However, he saw the company’s bonds due 2020 and 2024 “back to closing strongly bid at par bid post the payrolls” on Friday.

In other secondary action, the Republic of Korea’s new dollar notes were trading around 10 bps better compared to Wednesday’s pricing.

© 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.