Primary hosts Isbank, PKO Bank, Korea National Oil, Unibank; roadshows for Equate, Jordan

By Christine Van Dusen

Atlanta, Oct. 17 – Turkey’s Turkiye Is Bankasi AS (Isbank), Poland’s PKO Bank Polski SA, Korea National Oil Corp. and Philippines’ BDO Unibank Inc. sold notes on a busy Monday for emerging markets assets.

“Looking ahead, it will be a very busy week on all fronts,” a London-based analyst said.

Investors were keeping their eye out for the upcoming issue of notes from Saudi Arabia.

“Saudi Arabia will conclude its investor meetings tomorrow and could approach markets for a $10 billion to $20 billion bond issuance,” the analyst said.

In trading from the Middle East, notes from Oman were active again, with the 2021s trading at 100.62 bid, 100.82 offered and the 2026s moving to 99.62 bid, 99.82 offered, a trader said.

Perpetuals were mixed, he said, and some nibbling was seen on Dubai Holding’s 2017s.

Looking to Turkey, trading was soft on Monday, “with small selling flows as the market digests supply,” a trader said. He was referring to the $1.5 billion tap of the sovereign’s 4 7/8% notes due 2026.

In other deal-related news Kuwait’s Equate Petrochemical Co. KSCC will set out on Oct. 20 for a roadshow to market a possible issue of dollar-denominated and benchmark-sized notes, a market source said.

Jordan will set out on Wednesday for a roadshow to market a two-tranche issue of notes due in 10 and 30 years, a market source said.

© 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.