Uzbekistan preps global debut; Credit Bank of Moscow mandates banks; Pemex debt improves

By Paul A. Harris

Portland, Ore., Feb. 5 – In Tuesday’s emerging markets session Credit Bank of Moscow (Ba3/BB-/BB-) mandated Citigroup and Societe Generale as global coordinators and bookrunners to arrange a series of fixed-income investor meetings in Europe and the United States, beginning Feb. 7.

A euro-denominated offering of senior unsecured notes, with a maturity of three years to five years, will follow, pending market conditions.

Elsewhere Uzbekistan intends to roll out its debut global sovereign bond offer on an international roadshow set to get underway on Thursday.

The deal is expected to include fixed-rate notes with five- and/or 10-year maturities.

And Petroleos Mexicanos (Pemex) bonds improved as Mexican president Andres Manuel Lopez Obrador promised further steps to provide support for the debt-laden company.

Meanwhile, Brazil’s Banco BTG Pactual is set to begin a roadshow on Wednesday for a 10-year tier 2 subordinated notes.

The extended roadshow will be held through Feb. 11, with meetings in Asia as well as in the United States.

The market felt much better on Tuesday, to a New York-based syndicate banker who is looking for a meaningful buildup of the calendar.

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