Romania notes slip on debut; new Enel Chile adds; Argentina mostly steady as peso drops

By Rebecca Melvin

New York, June 8 – The new Romania 5¼% notes slipped in trade on Friday after the sovereign’s ministry of public finance priced $1.2 billion of the 30-year paper on top of guidance and slightly tight to initial price talk.

The new Romania notes were seen at 97½ bid, 98.30 offered after the deal priced at a reoffered 98.867, a London-based market source said.

The new Enel Chile SA 4 7/8% notes traded up on the break after the power company priced $1 billion of the 10-year notes.

The new Enel Chile notes were 99½ bid, 99.80 offered from a reoffered price of 98.824, a New York-based market source said.

Elsewhere, the Argentine peso fell to a record low in reaction to news that the country inked a deal with the International Monetary Fund on Thursday for a $50 billion credit line. Argentina credit held in in the early going but slipped some late in the day.

Argentina’s 7 1/8% notes due 2117 were last 86¾, which was down five cents on the day.

Argentina’s 8.28% notes due 2033 were 103.04 bid, 104.96 offered and indicated up 20 cents on the day.

Argentina’s 5 7/8% notes due 2028 were last 89.65, which was down a nickel on the day after trading up as high as 89.85 on Friday and as low as 89.60.

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