| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers Review > Headlines for 2017 > News item |
Morning Commentary: Credit Bank of Moscow on tap; tenors eyed for PhosAgro, KOKS, Metalloinvest
By Colin Hanner
Chicago, April 19 – Another new deal was whispered in the emerging markets space on Wednesday, a market source said, coming from Credit Bank of Moscow.
The privately owned bank operating in Moscow and the Moscow region plans to issue additional dollar-denominated tier 1 bonds, which non-callable for 5.5 years, a market source said.
No other details were available as of press time.
Tenor updates for new deals
Russian chemical holding company PhosAgro announced a mandate for investor meetings for a new dollar benchmark deal that is expected to have a four- or five-year tenor, a market source said.
KOKS Finance DAC is expected to price new five-year loan participation notes as a part of a refinancing that includes a cash tender offer for holders of its 10¾% notes due 2018, a market source said.
And Metalloinvest Finance DAC is expected to price seven-year notes on April 24 as part of a refinancing that includes a tender offer, a market source said.
Saudi Arabia ticks higher
Saudi Arabia’s 2 3/8% notes due 2021 were up less than 1/8 point to 98.31 bid, 98.51 offer from the morning session.
And its 3¼% notes due 2026 were up ¼ point to 97¾ bid, 98 offer.
PDVSA, Venezuela down
As protests loom for Venezuela, Petroleos de Venezuela SA’s bonds were down markedly on Wednesday.
PDVSA’s 8½% notes due 2017 were down 1½ points to 89½ bid, 90½ offer.
The 9% notes due 2021 were off 2 points to 52 bid, 53 offer.
And the 6% notes due 2024 were down ¾ point to 38¼ bid, 39¼ offer.
Venezuela’s 7% notes due 2018 were down ½ point to 70½ bid, 71½ offer.
Its 9% notes due 2023 were lower by ¾ point to 48¼ bid, 49¼ offer.
And the 9¼% notes due 2027 were down 1¼ points to 49½ bid, 50½ offer.
© 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.