Qatar Telecom taps managers for roadshow; Altice to bring deal Friday; Turkey notes firm

By Aleesia Forni

Columbus, Ohio, Dec. 6 - A pair of emerging markets issuers announced their plans to hit the primary in the coming weeks, market sources told Prospect News.

Qatar Telecom QSC (Qtel) is planning to price a dollar-denominated offering following a roadshow during the Dec. 9 week.

A two-part offering from Altice Group is expected to price on Friday.

In secondary action, London's morning began with a strong tone, though it seemed to "fade as the session wore on," a trader there said.

Another trader quoted Turkey's 6% notes due Jan. 14, 2041 slightly tighter following an add-on earlier in the week.

In the preferred stock market, Hong Kong's Seaspan Corp. sold $67.5 million of 7.95% $25-par series D cumulative redeemable perpetual preferred stock shares.

Qtel roadshow

Qatar Telecom will hold a roadshow ahead of a possible dollar-denominated notes issuance, according to a market source.

The roadshow will run from Dec. 9 to Dec. 11, making stops in Europe, the United States and Asia.

HSBC, Barclays, Mizuho, Mitsubishi, Morgan Stanley and QNB Capital are managing the proposed Rule 144A and Regulation S deal.

The telecommunications provider is based in Doha, Qatar.

Altice price talk

Altice Group set price talk for its euro- and dollar-denominated $700 million equivalent note offering on Thursday, a market source said.

Price talk for the dollar-denominated tranche is set at 8% to 8¼%.

The euro-denominated tranche is being talked 12.5 basis points higher than the dollar-denominated tranche.

As previously reported, the securities will mature in December 2019 and will be non-callable for three years.

Goldman Sachs, HSBC and Morgan Stanley are the bookrunners for the Rule 144A and Regulation S deal.

Proceeds will be used to refinance the telecommunications company's debt and to finance the acquisition of the remaining 31% stake in Hot Mobile that Altice does not own.

Altice operates Hot Mobile, a wireless telecommunications company in Israel, and Israeli cable television company Hot.

Turkey notes widen

Turkey's 6% notes due Jan. 14, 2041 were trading at 126¼ during Thursday's session, a market source said.

The sovereign priced a $1 billion add-on at 126.564 on Tuesday.

The original $1 billion issue sold at 96.631 on Jan. 5, 2011, and an earlier add-on of $1 billion was sold in June 2012.

Proceeds will be used for general financing purposes, which may include the repayment of debt.

Seaspan sells shares

Seaspan sold $67.5 million, or 2.7 million shares, of 7.95% $25-par series D cumulative redeemable perpetual preferred stock shares on Thursday, according to an FWP filing with the Securities and Exchange Commission.

Dividends will be paid on the 30th day of January, April, July and October, beginning Jan. 30. The preferred stock becomes redeemable on Jan. 30, 2018 at par plus accrued dividends.

Seaspan will apply to list the securities on the New York Stock Exchange.

Jefferies & Co., Incapital LLC and Credit Suisse Securities (USA) LLC are the joint bookrunners.

Proceeds will be used for general corporate purposes, which may include vessel acquisitions or investments.

Seaspan is a Hong Kong-based containership company.

Andrea Heisinger contributed to this review.

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