Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers K > Headlines for Kazakhstan > News item |
Issue from Korea Exchange Bank; Cemex suffers; Kazakhstan deal in focus; Pemex in demand
By Christine Van Dusen
Atlanta, Oct. 7 – Korea Exchange Bank printed notes and investors eyed the new bonds from Kazakhstan on a Tuesday that saw wider spreads for most emerging markets assets.
“A vast percentage of the market was focused on the return of Kazakhstan to the capital markets,” a London-based trader said.
“This morning we saw sellers of the 10-year around 98.45 to 98.50, but prices have since fallen below reoffer,” a London-based analyst said. “The 30-year is also trading below reoffer.”
In other trading on Tuesday, Russia’s corporate bonds kept up with the move in U.S. Treasuries, and credit default swaps spreads were 1 bp tighter.
Bonds from the Middle East saw a little bit more activity on Tuesday, even though many investors and issuers were still observing the Eid holidays, a London-based trader said.
Looking to Latin America, Mexico’s Cemex SAB de CV was hit hard on Tuesday on the news that the company is considering a joint bid with CRH for the assets that Lafarge, Holcim is selling before a merger, a New York-based trader said.
Meanwhile, Brazil-based Petroleo Brasileiro was up about 5 bps, mostly in response to Treasury moves, with the 2044s underperforming and the 2021s doing well.
The final book for Mexico-based Petroleos Mexicanos SAB de CV (Pemex) two-tranche issue of $2.5 billion notes due in 2025 and 2044 was $12.6 billion from 35 orders, a market source 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.