Sberbank, Gazprombank rise in trading; Albaraka Turk suffers; issuers line up roadshows

By Christine Van Dusen

Atlanta, June 27 – Bonds from OAO Sberbank were up in trading on Friday as investors kept an eye on mixed economic data from the United States, the tensions in Ukraine and the continuing conflict in Iraq.

The new Sberbank issue – €1 billion 3.3524% notes due 2019 that priced at par – was up almost 0.4 points on Friday, a trader said.

“A well-received deal that will make Russian banks more confident to issue in euros,” she said.

Russia’s OAO Gazprombank followed with its new deal this week, with a €1 billion issue of 4% notes due 2019 pricing at par to yield mid-swaps plus 334.9 basis points.

“That has also performed well, up about 0.3 points,” she said.

Turkey-based Albaraka Turk Katilim Bankasi AS’ 6¼% notes 2019 that priced at par didn’t fare as well in trading, a trader said.

“Generally unpopular, printing at the lower end of the size guidance,” she said. “It has since traded down 0.3 points.

Peru’s Corporacion Financiera de Desarrollo SA (Cofide) will set out on Monday for a roadshow to market a dollar-denominated issue of notes due in five and 10 years.

Hong Kong Science and Technology Parks Corp. has mandated ANZ, CCB International and Standard Chartered Bank to lead a roadshow for a Hong Kong dollar-denominated issue of notes.

India’s ONGC Videsh Ltd. – a subsidiary of Oil and Natural Gas Corp. Ltd. – will market a dollar- or euro-denominated issue of notes during an upcoming roadshow.

© 2015 Prospect News.
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