Thai Oil, South Africa’s Naspers announce roadshows; Middle East bonds mixed in trading

By Aleesia Forni

Virginia Beach, July 8 – Thai Oil PCL and South Africa’s Naspers Ltd. announced roadshows on Wednesday ahead of planned dollar-denominated deals.

Bangkok-based Thai Oil mandated HSBC and Standard Chartered Bank for a roadshow starting July 13, and a dollar offering of notes may follow.

Also on Wednesday, Naspers said that it will begin a roadshow for a possible Rule 144A and Regulation S offering via Barclays, Citigroup Global Markets Inc., BofA Merrill Lynch and BNP Paribas Securities Corp.

Naspers is a mass media company based in Cape Town.

Bonds in Central Europe and the Middle East were a “total mixed bag depending on the bond and on street positioning” on Wednesday, according to a trader.

He added that bonds from Abu Dhabi National Energy Co. (TAQA) have been heavy lately, with the company’s bonds trading wider in the secondary.

Along with TAQA, Saudi Electricity Co.’s bonds were trading around 10 basis points to 15 bps wider on the week.

And Ukraine’s bonds were trading higher on light activity, according to a market source, with the sovereign’s 2020s trading about 1 point better.

“Quasi-sovereigns continue their grind higher, closing ¼ point stronger,” he said.

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