EM debt markets quiet as broader markets trade off; Asia prices deals, adds to calendar

By Rebecca Melvin

New York, Jan. 22 – Emerging markets debt were mostly quiet and little changed on Tuesday, which was the start of a holiday-shortened week in the United States after financial markets were closed on Monday in observance of Martin Luther King Day.

There were no new issues announced in the Central & Eastern Europe, Middle East and Africa or Latin America regions.

Despite the silence in CEEMEA and Latin America, there were a number of deals announced and priced in Asia, and Studio City Co. Ltd. and Studio City Finance Ltd. said they will market a $425 million offering of five-year senior notes (B+) during the latter part of the week, according to a market source.

Korea Midland Power Co. Ltd. priced a $300 million issue of 3 3/8% three-year notes.

Indonesia’s Alam Sutera Realty Tbk. issued $175 million of 11½% two-year senior via subsidiary Alam Synergy Pte. Ltd.

ZH International Holdings Ltd. priced $100 million 8% one-year senior bonds at par on Tuesday.

In addition, Central China Real Estate Ltd. priced $200 million of one-year senior notes at par to yield 7.325%.

Joining the forward calendar is China Evergrande Group, which plans to sell additional dollar-denominated senior notes to be consolidated with three series of notes that were priced originally in 2017.

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