Finansbank prices benchmark deal; Capex, Unifin come to market; Bank of East Asia on tap

By Colin Hanner

Chicago, May 11 – Two Latin American deals came out of the pipeline in emerging markets on Thursday, though a one-day roadshow was enough for a benchmark deal out of Turkey’s Finansbank, which priced $750 million 4 7/8% five-year notes to yield 4.95%, a market source said.

The notes priced at 99.671, a market source said.

Price talk was in the 5% to 5.1% area, tightening to 4.95%.

Investors subscribed for more than $2.3 billion of the Rule 144A and Regulation S deal, a market source said.

Citi, HSBC, ING, JPMorgan, QNB Capital and Standard Chartered were the bookrunners.

Argentina’s Capex SA priced $300 million 6 7/8% seven-year notes at par on Wednesday, a market source said.

Initial price talk for the notes (/B/B+) was in the low-to-mid 7% area, tightening to 6 7/8%, a market source said.

The notes are non-callable for four years.

Deutsche Bank and JPMorgan were joint lead managers for the deal.

Capex is a Buenos Aires-based energy company.

Mexico City-based leasing and financial services company Unifin Financiera, SAB de CV, Sofom priced $450 million 7% eight-year notes to yield 7¼% on Thursday, a market source said.

The notes (//BB) priced at 99.285.

And Bank of East Asia, Ltd. is offering a dollar-denominated Basel III-compliant additional tier 1 non-cumulative subordinated capital securities, a market source said.

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