Primary active; Unigel talks benchmark; Peru LNG on tap for Thursday; Gaz Capital launches

By Rebecca Melvin

New York, March 14 – Market players eyed initial price talk that emerged on Wednesday on Unigel Participacoes SA’s proposed notes expected to price on Thursday and also watched for additional deals for the Latin America region, which has been light on transactions for the last week and radio silent for the three weeks prior to that.

Unigel plans to price a dollar-denominated benchmark of seven-year notes with a yield in the area of 8%.

Morgan Stanley and UBS are joint bookrunners for the Brazilian commodity chemical producer’s notes offering and managed the roadshow that wrapped up on Wednesday.

Lima-based gas-fired power company Peru LNG SRL, which has been on the calendar for a $940 million offering of 12-year notes since last week, was also signaled for pricing on Thursday.

Meanwhile, Russia’s Gaz Capital SA launched a Regulation S deal for €750 million of eight-year notes, which were expected to yield 2˝%.

Also joining the calendar among Asia issuers is China’s Lenovo Group Ltd., which plans to issue dollar-denominated notes due 2023 and 2028 under Regulation S.

Along with the Beijing-based technology company, Korea Water Resources Corp. has mandated banks for an offering of dollar-denominated green or water bonds under Regulation S.

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