Mersin eyes deal, Eskom gives details, Sri Lanka's National Savings plans $1 billion sale

By Aleesia Forni

Virginia Beach, Va., July 31 - Wednesday's emerging markets space saw Turkey's Mersin Uluslararasi Liman Isletmeciligi AS (Mersin International Port) announce plans to sell $450 million of seven-year notes, according to a market source.

The announcement follows the company's marketing trip, which it conducted during the July 22 week.

Meanwhile, South Africa's Eskom Holdings SOC Ltd. gave terms of its recent $1 billion sale of 6¾% notes on Wednesday, and Sri Lanka's National Savings Bank is gearing up to price up to $1 billion bonds.

Eskom Holdings priced its notes due 2023 at 99.017 to yield 6 7/8%.

A market source noted that the book reached more than $4 billion.

In other primary news, National Savings Bank is kicking off a roadshow this week ahead of a possible sale of up to $1 billion of bonds via Barclays, Citigroup and HSBC.

The day also saw Siam Cement PCL announce plans to offer up to 20 billion baht of four-year debentures.

In secondary action, one trader noted Eskom Holdings' bonds due 2021 trading up compared to levels seen late Tuesday.

Mersin eyes deal

Mersin International Port is planning to bring a $450 million issue of seven-year notes to the primary market, according to a market source.

Citigroup, DBS Bank and Unicredit Bank are bookrunners for the Rule 144A and Regulation S deal.

The Mersin-based issuer runs Turkey's largest port, which is jointly owned by Akfen Holding and PSA International.

Eskom new issue

Eskom priced a $1 billion sale of 6¾% notes due 2023 at 99.017 to yield 6 7/8%, according to one market source.

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

Eskom Holdings is an electricity provider based in Johannesburg.

Sri Lankan bank's roadshow

In other primary news, Sri Lanka's National Savings Bank is on roadshow this week ahead of possible $1 billion bond offering.

Barclays, Citigroup and HSBC are the bookrunners for the deal.

National Savings Bank is a lender based in Colombo, Sri Lanka.

Eskom bonds leak higher

One trader saw Eskom's existing bonds due 2021 at 98½ bid on Wednesday, up ½ point.

Eskom sold the $1.75 billion of 5¾% notes at 99.273 to yield 5.847% on Jan. 19, 2011.

Siam eyes offering

Siam Cement it plans to issue up to 20 billion baht of four-year debentures with a coupon that is fixed until maturity or reset annually.

The new debentures will be sold to holders of Siam Cement's existing 4.15% debentures due Oct. 1, 2013 at a rights offering ratio of 1 to 1. New debentures not allotted to holders of the debentures due Oct. 1, 2013 will be offered to holders of the company's other existing debentures and to individual investors who are not Siam Cement debenture holders.

The offer period will be Sept. 1 through Sept. 30.

Bank of Ayudhya PCL, Bangok Bank PCL, Kasikorn PCL, Krung Thai Bank PCL and Siam Commercial Bank PCL are the underwriters.

The company's board of directors approved the issuance on July 31.

The cement company is based in Bangkok.

Marisa Wong contributed to this review.

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