Colombia plans new 2049 notes, tap of 2029s; Venezuela gains as Guaido claims presidency

By Rebecca Melvin

New York, Jan. 23 – Emerging markets debt saw a little bit more activity on Wednesday than in the prior session, with Colombia announcing that it is planning to price a new issue of U.S. dollar-denominated global notes due 2049 and a tap of its 4½% global bonds due 2029.

In the secondary market, Venezuela bonds gained on Wednesday after the country’s opposition leader Juan Guaido declared himself interim president while hundreds of thousands of Venezuelans rallied in street protests against the leadership of current socialist President Nicolas Maduro.

Back in primary market action, Dubai Investments Park Development Co., a subsidiary of Dubai Investments PJSC, said it has mandated banks and scheduled a roadshow for a planned five-year Islamic bond, or sukuk.

In new paper, Korea’s Hanwha Total Petrochemical Co. Ltd. has issued $400 million of 3 3/8% senior notes due 2024 (Baa1/BBB).

Also, Philippines’ Asian Development Bank said it has priced £500 million of new floating-rate notes due 2022 at par on Wednesday to yield a spread of 26 basis points over the sterling overnight index average, according to a syndicate source.

And Zhenro Properties Group Ltd. priced a $150 million add-on to its 10½% senior notes (B3/B-) due 2020, according to an announcement.

© 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.