Colombia, BOC Aviation tap market; Ghana, Ukraine plan deals; Emirates offering on deck

By Christine Van Dusen

Atlanta, March 23 – Colombia and Singapore’s BOC Aviation Pte. Ltd. sold notes on Monday as Asian credits were again firm, with high-grade bonds generally unchanged.

Oil company bonds from China were unchanged, even after China Petrochemical & Chemical Corp. (Sinopec Group) reported weaker-than-expected earnings, a London-based trader said.

Bonds from Chinese property companies were unchanged to ¼-point higher, he said.

“Flow in the secondary was light, with focus on the much-anticipated primary supply before the Easter holidays,” he said. “In Korea, the market is a touch softer, with real-money accounts sidelined at current yields.”

Notes from India were firm on Monday, he said, while the Philippines’ long end moved a ½-point higher and the Indonesia long end was ½-point to ¾-point higher.

Latin American credits improved on Monday after an illiquid and slow Friday, a New York-based trader said.

The United Arab Emirates-based Emirates set initial talk in the mid-swaps plus 100 bps area for an offering of about $913 million Islamic bonds due March 31, 2025, a market source said.

Meanwhile, Ghana is looking to issue up to $1.5 billion of notes in the first half of this year, a market source said.

And Ukraine is looking to issue $1 billion of notes in April, a market source said.

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