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Roadshows for Malaysia Airports, Berau Coal; Ukraine, Russia remain in focus; Petrobras firm
By Christine Van Dusen
Atlanta, Aug. 20 – Malaysia Airports Holdings Bhd. and Berau Coal Energy Tbk set roadshows for upcoming deals on Wednesday as investors looked ahead to next week’s meeting of the leaders of Ukraine and Russia.
So far this week, bonds from Ukraine have ticked higher, with the sovereign’s 2023s moving up 1.8 percentage points and the 2017s adding 0.8 percentage points, according to a report from Eavex Capital.
On the corporate side, Metinvest BV has seen its 2018s gain 1 percentage point to trade at 75 bid, 78 offered. And Ferrexpo plc’s 2016s have moved up 0.7 percentage points to 94 bid, 95½ offered.
Also on Wednesday, South African bank bonds suffered after Standard Bank became the latest lender to see its ratings get downgraded, a trader said.
Standard Bank’s 2019 notes dipped to 115¾ in trading while FirstRand’s declined to 103 7/8, he said.
Looking to Latin America, Wednesday’s fairly active session saw steady inquiries, a New York-based trader said.
Spreads remained firm for Petroleo Brasileiro SA (Petrobras) and the 2019 notes that Chile’s Masisa SA priced at par moved to 109¾ on Wednesday. On Tuesday, the notes traded at 109½.
In other news, market sources were whispering about a possible bond that Serbia could bring to the market this year in dollars or euros.
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