EM awakens from summer lull with deal launches; Mexico City Airport to price dual tranches

By Rebecca Melvin

New York, Sept. 5 – Tuesday’s session in emerging markets was a busy one for new deal launches as market players in the United States returned to work after Monday’s market close for Labor Day and following a two-week lull in activity amid summer holiday schedules.

Most of the new paper will be seen next week, including Mexico City Airport’s dual tranches of dollar-denominated senior secured notes for up to $4 billion of financing, according to a market source.

Brazil’s Klabin SA was set to begin a roadshow of dollar-denominated notes on Thursday, with a deal expected to follow after meetings wrap up on Monday.

Fellow pulp and paper company Suzano Papel e Celulose SA, also from Brazil, too plans to issue new notes.

Chile’s Empresa Nacional del Petroleo (ENAP) was also tapping the international bond market and selected bookrunners for a long-dated benchmark of dollar-denominated notes that will be priced following a roadshow scheduled to wrap up on Friday.

In addition, Panama’s Banistmo SA is on the calendar for a $300 million deal of senior unsecured notes (expected rating: //BBB).

Turkey’s Coca-Cola Icecek AS launched a deal that was expected to be $500 million to $750 million in size, according to a market source.

Also launching early Tuesday is a deal from Russia’s Novolipetsk Steel.

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