Turkey prices €1.5 billion notes; RusHydro, Baidu plan deals; Tocumen Airport prices tap

By Rebecca Melvin

New York, Nov. 7 – The Republic of Turkey woke up emerging markets debt on Wednesday with a new offering of euro-denominated 2026 notes. The new notes are coming to the market less than a month after the sovereign priced $2 billion five-year notes in the middle of October.

Turkey priced €1.5 billion of notes to yield 5¼%, or a yield spread of mid-swaps plus 456.4 basis points.

The market also eyed Russia’s PJSC RusHydro, which selected banks and has scheduled fixed-income investor meetings about ruble-denominated loan participation notes with a three-year to five-year maturity and a possible three-year renminbi-denominated “Dim Sum” loan participation note.

From the Middle East and Africa region, NMC Healthcare LLC announced a proposed dollar-denominated five-year note.

In Asia, Beijing-based web services company Baidu, Inc. announced it is offering two tranches of U.S. dollar-denominated notes, the company said in a regulatory filing.

In Latin America, Panama’s Aeropuerto Internacional de Tocumen priced a $650 million tap of its 6% notes due 2048. The tap followed on the heels of Brazil’s Suzano Papel e Celulose SA tap for $500 million of its 7% senior notes due 2047 on Tuesday. The new Tocuman notes were re-offered at 97.203 for a yield of 6¼%. The 7% Suzano notes priced at 101.842 to yield 6.85%.

© 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.