Argentina preps $15 billion notes; Brazil votes for impeachment; issuers line up roadshows

By Christine Van Dusen

Atlanta, April 18 – Argentina was in focus as the sovereign released final guidance for a four-tranche issue of up to $15 billion of notes on a Monday that saw oil prices drop after Sunday’s big meeting in Doha failed to yield an agreement on freezing production.

Meanwhile, the congress in Brazil voted to impeach President Dilma Rousseff.

Volumes for Latin American debt, meanwhile, were fairly light on Monday, a New York-based trader said. But prices did not weaken, despite the vote in Brazil and the change in oil prices.

“We continue to trade close to Friday’s levels, a bit higher on some credits, and clients are not buying with the fervor of sessions past,” he said. “But they’re also only selling here and there.”

In deal-related news, China Aoyuan Property Group Ltd. set talk for its $250 million issue of three-year notes at 6 5/8%, a market source said.

Malaysia’s Malayan Banking Bhd. (Maybank) commenced on Monday a roadshow to market a dollar-denominated issue of bonds.

Export-Import Bank of China (Chexim) is on a roadshow for a three-year issue of benchmark-sized euro-denominated notes.

Abu Dhabi will start a roadshow on Tuesday for a dollar-denominated issue of notes.

Oman’s BankMuscat will set out on Wednesday for a roadshow to market a dollar-denominated and benchmark-sized issue of notes.

And China’s JD.com is planning to issue two tranches of dollar-denominated notes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.