Peru’s Inkia Energy plans $200 million offering; China’s KWG Group prices add on

By Rebecca Melvin

New York, Nov. 30 – Emerging markets debt, which put in another tough month in November, was getting a slight lift on Friday, the last day of November, as U.S. stocks continued to rally following steep losses last week.

The emerging markets primary was mostly quiet as the window for new issuance in 2018 starts to close. But Nautilus Inkia Holdings LLC started fixed-income investor meetings on Friday for a proposed $200 million offering of 10-year senior unsecured notes.

The Lima, Peru-based power generation and distribution company mandated JPMorgan, Credit Suisse and Scotia Bank to arrange the meetings for the Rule 144A and Regulation S deal.

Proceeds are earmarked to refinance a bridge loan associated with an acquisition, and pricing is expected to occur after the conclusion of investor meetings on Wednesday.

In the Asia region, KWG Group Holdings Ltd. priced a $150 million add on to its 9.85% guaranteed senior notes due 2020 at 101.5. The new notes will be consolidated with $400 million of the notes, which were issued on Nov. 26, forming a deal size of $550 million.

Standard Chartered Bank is bookrunner for the Regulation S offering.

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