Issuers launch in Asia; TSKB to price; JSL Europe prices add on; Latin America calendar grows

By Rebecca Melvin

New York, Jan. 8 – China’s Longfor Properties Co. Ltd. and Country Garden Holdings Co. Ltd. announced on Monday plans to issue benchmark-sized offerings of dollar-denominated notes and other issuers in Asia launched during the session, as well as in the Middle East and Asia. Still, it was generally a slower day for emerging markets compared to last week’s strong action, sources said.

Longfor is a Beijing-based investment holding company and Country Garden is a Foshan, China-based real estate developer.

In addition, Singapore-based energy company Puma Energy Holdings Pte. Ltd. said it plans to price a benchmark-sized offering of dollar-denominated eight-year notes, which will be non-callable for three years.

Several issuers in India also indicated that they had notes coming soon.

Moving eastward, Turkey’s Turkiye Sinai Kalkinma Bankasi AS launched an offering of 2023 notes that was seen pricing on Tuesday, according to a market source.

Spreads on TSKB’s existing notes ranged from 0.6 to 5 basis points wider on three shorter-dated notes, but about six bps tighter on the longest dated TSKB bonds, a 7 5/8% note due 2027, a London-based trader said. Oman’s curve was about unchanged to 4 bps wider on the day as the market awaits pricing of the sovereign’s multiple tranches later in the week.

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