Singapore’s Perennial issues notes; roadshow for China Energy; BankDhofar eyes bonds

By Christine Van Dusen

Atlanta, March 9 – Singapore’s Perennial Real Estate Holdings Ltd. sold notes on Monday as paper from Russia opened mostly unchanged – following a 35-basis point tightening on Friday – as the ceasefire with Ukraine seemed to strengthen.

“But there are still concerns related to the coastal town of Mariupol, where one of the Ukraine’s largest steel plants is located,” a London-based analyst said. “Seizing that could provide a boost to the rebel-held economy.”

Looking to Turkey, trading was quiet on Monday morning after weakness on Friday, when credit default swaps moved 8 bps wider and banks outperformed the sovereign, he said.

Investors remained concerned about the strength of the lira and the upcoming meeting of the Central Bank, he said.

Bonds from the Middle East were quiet on Monday morning, following a Friday that saw spreads get support from the move in rates, he said.

From Latin America, the weakness seen Friday from the move in Treasuries remained on Monday for many credits, a New York-based trader said.

In deal-related news, China Energy Reserve and Chemicals Group Overseas Co. Ltd. will set out on Wednesday for a roadshow to market a renminbi-denominated issue of notes, a market source said.

Oman’s BankDhofar is looking to issue dollar-denominated notes, a market source said.

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