Turk Eximbank, Chile’s ENAP price new dollar benchmarks; Klabin, Coca-Cola Icecek on tap

By Rebecca Melvin

New York, Sept. 11 – Emerging markets eyed two deals that were pricing during Monday’s session. Turkey’s state-owned export-import bank, Turkiye Ihracat Kredi Bankasi AS, priced $500 million of five-year notes to yield mid-swaps plus 262.5 basis points, and Chile’s Empresa Nacional del Petroleo priced $600 million of notes to yield Treasuries plus 195 bps, according to market sources.

On tap for Tuesday’s business are dollar-denominated deals from Klabin SA and Coca-Cola Icecek AS. The offering of notes from Brazil’s Klabin and Turkey’s Coca-Cola’s benchmark note offering (expected ratings: Baa3//BBB) were pricing following investor meetings that wrapped up on Monday.

Bahrain may also price a previously announced deal on Tuesday, a market source said.

For Wednesday, Mexico City Airport plans to price two tranches of dollar-denominated senior secured green notes for up to $4 billion of financing.

Also on the calendar are Latin American focused deals from Adecoagro SA, Banistmo, Geopark and Millicom International Cellular SA.

The secondary market was active. The secondary market in the Central & Eastern Europe, Middle East and Africa region was “moderately busy,” a London-based trader said, with prices adjusting downward in tandem with a move lower in U.S. Treasuries, but spreads were holding in.

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