Morning Commentary: Alibaba eyes five-tranche issue as market awaits price guidance

By Rebecca Melvin

New York, Nov. 29 – Alibaba Group Holding Ltd. is planning to price five benchmark-size tranches of notes on Wednesday, including 5.5-, 10-, 20-, 30- and 40-year deals, according to a market source.

Price guidance was not yet available for the investment-grade deals.

Meanwhile the primary emerging market was relatively quiet overall, with no new issuance reported in the Central & Eastern European, Middle East and Africa region.

In Latin America, pricing was expected Wednesday or Thursday for the Cemig Geracao e Transmissao SA dollar notes being marketed by Bradesco, Citigroup, Deutsche Bank and Itau BBA. In addition, Argentina’s Rio Negro province has been on the road for $300 million of seven-year notes and Brazilian airline Gol Linhas Aereas Inteligentes SA is marketing notes through next Tuesday to fund a tender offer.

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