Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers A > Headlines for Argentina > News item |
Emerging markets debt improves again; year-end result looks set; market eyes NiQuan deal
By Rebecca Melvin
New York, Dec. 13 – Emerging markets debt improved again on Thursday, amid mixed performance in the broader markets.
The credits hardest hit in recent months have been the ones outperforming, including Argentina, Turkey, South Africa and Mexico, a New York-based market source said. But the positive tone the market is sporting is unlikely to change full-year results for 2018, the source said.
For the year so far, the J.P. Morgan emerging markets’ U.S. dollar-denominated sovereign bond index is down 4.9%, and the source predicted a negative return at about that same level would stand at the close of the year.
No pricing emerged on planned notes for Trinidad & Tobago’s NiQuan Energy Trinidad Ltd., although fixed income-investor meetings were set to wrap up Thursday. However, meetings may continue as the deal is being sold to very specific investors in the Caribbean, which could mean a longer process, a New York-based sellsider, away from the deal, said.
“It’s not the rosiest market,” the source said, but it may get done in “a private placement-esque” way.
Oppenheimer and Republic Bank are bookrunners of the deal, the proceeds of which would go toward facility development of the gas to liquids operator based in Port-of-Spain.
© 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.