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Isbank, PTA price notes; roadshows ending for next week’s deals; South Africa bonds better
By Colin Hanner
Chicago, April 21 – Before a swath of new emerging markets issues price early next week, Turkiye Is Bankasi AS and Eastern and Southern African Trade and Development Bank (PTA Bank), two deals that were talked about on Thursday, priced later the same day.
The lookahead for next week will see the conclusion of Russian commonwealth roadshows for Credit Bank of Moscow, KOKS Finance DAC, PhosAgro and Metalloinvest Finance, with deals to follow, a market source said. MHP SA will begin a three-day roadshow on Monday.
Sovereign activity in South Africa saw the country with solid sentiment following the ousting of its former finance minister.
“South African bonds were the outperformers among the emerging markets sovereigns this week, tightening by 20 basis points across the curve in a recovery rally following the removal of Finance Minister Gordhan and the recent downgrades,” a market source said.
Amid Venezuela’s protests that continue to worsen, its bonds were higher during Friday’s session.
Petroleos de Venezuela’s 8½% notes due 2017 were up ¾ point to a 90 bid, 91 offer. The 9% notes due 2021 were up ¼ point to 52¼ bid, 53¼ offered.
Venezuela’s 7% notes due 2018 were up 1½ points to a 70 bid, 71 offer. Its 9% notes due 2023 were unchanged at 48 bid, 49 offered.
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