Thai bank names look to tap market; PTT Global, Sino Land price; Alfa Bank eyes deal

By Aleesia Forni

Columbus, Ohio, Sept. 12 - Thai banks are rushing to the primary market on the heels of Siam Commercial Bank's tap earlier in the week.

The notes were about 3 basis points tighter from Friday's levels, with a trader quoting them at 213 bps bid during the London session.

Both Bangkok Bank and Kasikornbank plc will hold roadshows this week ahead of possible dollar-denominated offerings.

Details of Bangkok Bank's roadshow were not immediately available at press time.

Also in that region, PTT Global Chemical plc sold a $1 billion issue of 4¼% 10-year notes.

The new issue market also saw Hong Kong's Sino Land Co. price a $500 million issue of five-year notes at 265 bps over Treasuries.

Russian names are also tapping the dollar market, as Moscow's Alfa Bank and Novolipetsk Steel OJSC kick off investor meetings Thursday and Friday, respectively.

Gazprombank OAO plans to hold a single day of investor meetings on Thursday.

India's Syndicate Bank will also hit the road this week ahead of a possible dollar-denominated issuance.

PTT Global prices notes

Wednesday's primary saw PTT Global price $1 billion 4¼% 10-year senior notes (Baa2) at 99.108 to yield 4.361%, or Treasuries plus 260 bps, according to a syndicate source.

Goldman Sachs, Barclays, Standard Chartered and RBS were the bookrunners for the Regulation S and Rule 144A transaction, which follows a roadshow that wrapped up on Tuesday.

The petrochemical and refining company is based in Bangkok.

Sino Land sells notes

Also in the primary, Sino Land priced a $500 million issue of 3¼% five-year unsecured notes at 99.561 to yield 3.346%, or Treasuries plus 265 bps, a syndicate source said.

HSBC was the bookrunner for the Regulation S-only deal.

The property developer is based in Hong Kong.

Kasikornbank to hold roadshow

Bangkok's Kasikornbank is holding a roadshow this week ahead of a possible Regulation S dollar-denominated bond offering, a syndicate source said Wednesday.

Investor meetings will take place in Asia and Europe via Citigroup and Standard Chartered.

Novolipetsk eyes dollar bonds

Novolipetsk Steel will kick off investor meetings on Sept. 14 ahead of a possible dollar-denominated bond offering, a market source said.

The roadshow will run through Sept. 18.

The Lipetsk, Russia-based steel company has mandated Deutsche Bank, JPMorgan and Societe Generale to arrange the meetings.

Alfa Bank plans roadshow

Alfa Bank is planning a roadshow beginning Sept. 13 that will make stops in Europe, Asia and the United States, according to a market source.

Goldman Sachs and UBS are arranging the meetings.

The retail and commercial bank is based in Moscow.

Gazprom arranges meetings

Gazprombank will hold investor meetings on Thursday ahead of a possible issue of ruble-denominated notes, a market source said.

HSBC, Citigroup, Barclays Capital and Gazprombank are arranging the meetings, which will take place in London.

Gazprombank is a Moscow-based lender.

Syndicate Bank hits road

Meanwhile, India's Syndicate Bank will hit the road this week ahead of a possible offering of dollar-denominated notes, a market source said Wednesday.

The fixed-income investor meetings will run Sept. 12 through Sept. 27.

Citigroup, Deutsche Bank, HSBC, Standard Chartered and JPMorgan are arranging the meetings.

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