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Published on 9/20/2017 in the Prospect News High Yield Daily and Prospect News Investment Grade Daily.

Slovenia prices taps; new South Africa notes flat to slightly higher; KazTranzGas weaker

By Rebecca Melvin

New York, Sept. 20 – The Republic of Slovenia priced €700 million additional notes due March 22, 2027 and Nov. 3, 2040 on Wednesday, representing its third tap of those issues and bringing the amount outstanding in that Regulation S paper to $3 billion each.

Slovenia’s €200 million 1¼% notes due 2027 priced at 102.194 to yield mid-swaps plus 20 basis points, and its €500 million 1¾% notes due 2040 priced at 94.468 to yield mid-swaps plus 55 bps.

Also expected to price were planned taps of Russia’s 4¼% notes due 2027 and 5¼% notes due 2047.

Elsewhere, South Africa’s $1 billion of new 10-year notes and $1.5 billion of new 30-year notes were trading flat to slightly better upon release for secondary market action early Wednesday, according to a market source.

The new issue of KazTransGas slipped to about 99¼ in early trade, but was seen later at 99½ after the Kazakhstan gas supply company priced $750 million of the 4 3/8% 10-year notes at 99.799 on Tuesday.

In the primary market, Mexico’s Mexichem SAB de CV was slated to begin investor meetings Wednesday for an offering of dollar-denominated notes, and Cydsa SAB de CV plans to offer up to $370 million of up to 10-year senior unsecured debt (expected rating: //BB+).


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