Trade and Development Bank of Mongolia prices notes; Citic Bank, Maybank add to 'full' pipeline

By Aleesia Forni

Columbus, Ohio, Sept. 13 - The emerging markets primary market continued to see a "full" pipeline, a London-based trader said, with Citic Bank International Ltd. starting investor meetings next week.

Trade and Development Bank of Mongolia sold a $300 million issue of 8½% notes due 2015.

Malayan Banking Bhd. (Maybank) and Eurasian Development Bank also plan to tap the market.

Maybank set talk on its proposed 10-year deal at 275 basis points over Treasuries, while Eurasian Development Bank is eyeing a $500 million issue.

A New York-based syndicate banker said he is "expecting next week to be pretty busy" as well, considering the number of companies wrapping up investor meetings this week.

TDB Mongolia prices

Trade and Development Bank of Mongolia priced a $300 million issue of 8½% notes due 2015 at 99.676 to yield 8 5/8%, a syndicate source said.

Bank of America and ING were the bookrunners.

The commercial bank is based in Ulaanbaatar, Mongolia.

Citic taps dealers

Citic Bank has tapped RBS, BBVA and HSBC to arrange a roadshow beginning on Monday, a syndicate source said.

Citic is based in Hong Kong.

Turkey next week?

Turkey's planned issue of up to $1 billion of Islamic bonds may come as early as next week, a market source said.

The expected timing comes on the heels of a roadshow via Citigroup, HSBC and Liquidity House of Kuwait, which will wrap up this weekend.

Maybank talks

Maybank set price talk on its 10-year offering of subordinated notes at Treasuries plus 275 bps, a market source said.

No other details were available at press time.

Maybank is based in Kuala Lumpur, Malaysia.

EDB plans offering

Eurasian Development Bank expects to issue $500 million of senior notes, according to a bank news release.

Citigroup is managing the Regulation S and Rule 144A offering.

The bank is based in Almaty, Kazakhstan.

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