RioPrevidencia brings new issue; ADB launches offering; Alibaba schedules roadshow

By Aleesia Forni

Virginia Beach, Nov. 14 – Brazil’s RioPrevidencia issued bonds during a mostly quiet Friday session for emerging markets bonds.

The company sold an upsized $1.1 billion issue of notes due 2027.

Also on Friday, Asian Development Bank launched a $1 billion offering of seven-year global notes.

In forward calendar news, China’s Alibaba Group Holding Ltd. (A1/A+/A+) announced a roadshow ahead of a planned dollar-denominated offering of bonds.

RioPrevidencia prices

Brazil’s RioPrevidencia sold an upsized $1.1 billion issue of 6¾% notes due in 2027 (expected ratings: /BBB-/BBB) at par on Friday, a market source said.

Price talk was set in the 6½% area.

The bookrunners were BB Securities and BNP Securities Corp.

The company is the public pension fund for Rio de Janeiro.

Alibaba roadshow

China’s Alibaba Group Holding (A1/A+/A+) has scheduled a series of investor meetings ahead of a planned Rule 144A and Regulation S offering of dollar-denominated bonds, according to an informed source.

The meetings will begin in Boston and Hong Kong on Monday before moving to New York and Singapore on Tuesday and London on Wednesday.

Citigroup Global Markets Inc., Morgan Stanley & Co. LLC, Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC are the bookrunners.

The proceeds will be used primarily for refinancing the company’s existing credit facilities.

Alibaba is an e-commerce group and internet portal based in Hangzhou, China.

ADB launches notes

Asian Development Bank launched $1 billion of seven-year global notes on Friday at mid-swaps plus 4 basis points, according to an informed source.

BofA Merrill Lynch and Goldman Sachs & Co. are the bookrunners.

The lender is based in Manila.

Emirates NDB notes firm

In the secondary market, the recent issue of Dubai-based Emirates NBD’s 3¼% notes due 2019, which priced at 99.963, traded at par bid, 100¼ offered, a London trader said.

The notes were quoted at 100.20 bid, 100.30 offered late Thursday.

BofA Merrill Lynch, BNP Paribas, Emirates NBD, HSBC and Standard Chartered Bank were the bookrunners for the Regulation S deal.

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