Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers U > Headlines for Union Andina de Cementos SAA > News item |
Yasar Holding prints bonds; Oi notes move higher on takeover news; Unacem trades up
By Christine Van Dusen
Atlanta, Oct. 31 – Turkish conglomerate Yasar Holding AS sold notes on Friday as bonds from Brazil-based Grupo Oi SA moved higher and notes from Mexico’s Cemex SAB de CV were better bid.
Oi’s notes jumped 1½ points on Friday on the news that the company was bidding – along with Mexico’s America Movil SAB and Spain’s Telefonica SA – for TIM Participacoes SA in an effort to break up the company.
Paper from Oi looked like it was for sale, a New York-based trader said.
“Confusing takeover story,” he said. “Seems like it has a long way to go before this mass consolidation trade is settled, meaning the paper will continue to trade in the 3 point to 5 point range.”
Meanwhile, the curve for Brazil-based Petroleo Brasileiro steepened under selling pressure, he said.
The long end for Brazil-based Vale SA was unchanged on a spread basis, he said, but it took a price hit with the drop in Treasuries.
“Clients are better sellers there as well,” he said.
And the recent issue of notes from Peru’s Union Andina de Cementos SAA (Unacem) – 5 7/8% notes due 2021 that priced at par – traded in a tight range on Friday.
The notes were spotted between 101.55 and 101¾, he said.
Overall, emerging markets bonds ended the week on better footing, a London-based analyst said.
© 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.