Deals from China Oil, KazMunaiGaz; Ukraine dips, Oi climbs; JSW puts off issuance

By Christine Van Dusen

Atlanta, Nov. 3 – China Oil and Gas Group Ltd. and Kazakhstan’s KazMunaiGaz National Co. sold notes on Monday as Ukraine bonds dipped about a point after two republics held elections and Russia moved more troops over the border.

Emerging markets assets also reacted to recent U.S. economic data, which came in above expectations, a trader said.

Meanwhile, Brazil-based Grupo Oi SA saw its bonds jump higher during the morning after an offer was made for its Portuguese assets, a New York-based trader said.

In response to the news, Oi’s 2020s and 2022s moved up a point in early trading on Monday, the trader said.

Also on Monday morning, the recent issue of notes from Peru’s Union Andina de Cementos SAA (Unacem) ticked up in trading.

Later in the session, Peru-based Unacem’s new bond moved to 101½, then 101.40 and then 101.35, the trader said.

In deal-related news, Korea East-West Power Co. Ltd. has hired Barclays, BNP Paribas, BofA Merrill Lynch, Citigroup, Credit Suisse, HSBC and UBS to arrange a roadshow for a dollar-denominated issue of notes, a market source said.

Poland’s Jastrzebska Spolka Weglowa SA (JSW) has postponed plans for an issue of dollar-denominated notes, a market source said.

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