Albaraka Turk, Al Hilal, Czech Export, China Construction banks do deals; roadshows ahead

By Christine Van Dusen

Atlanta, June 24 – Turkey’s Albaraka Turk Katilim Bankasi AS, Abu Dhabi-based Al Hilal Bank, Ceska Exportni Banka AS (Czech Export Bank) and China Construction Bank (Asia) Corp. Ltd. sold notes on Tuesday as sentiment improved on the news that pro-Russia rebels would honor a ceasefire in Ukraine.

“Another strong open in [emerging markets] this morning,” a London-based analyst said.

In trading, the new issue of notes from Russia-based lender OAO Sberbank – 3.3524% notes due 2019 that priced at par to yield mid-swaps plus 260 basis points – performed well, tightening about 15 bps.

Barclays, BNP Paribas, Deutsche Bank and Sberbank CIB were the bookrunners for the Regulation S deal.

“Elsewhere, Russia ‘30s are up a ½-point this morning,” she said. “Dubai credit is under a little pressure this morning,” the analyst said.

Looking to Latin America, bonds opened fairly close to the previous day’s levels, with spreads just a touch tighter, a New York-based trader said.

Colombia’s Bancolombia SA, which recently had been trading with a weak tone, moved higher on Tuesday, he said. And buyers outpaced sellers during the morning.

In deal-related news, several issuers set talk, including Slovenia’s Nova Ljuljanksa Banka, China’s Hua Xia Bank and Brazil’s Globoaves Finance SA.

And roadshows were underway or ahead for Rolta India Ltd., Peru’s InRetail Shopping Malls, China’s Hang Seng Bank (China) Ltd. and Indonesia.

© 2015 Prospect News.
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