Primary hosts ALFA; roadshows for CMPC, Great Wall Asset Management; Ukraine in focus

By Christine Van Dusen

Atlanta, Sept. 5 – Mexico’s ALFA SAB de CV printed notes on a Friday that saw investor sentiment improve on developments in Ukraine, then decline slightly on the news that hiring slowed in the United States in August.

“Very quiet after ‘shocking’ data,” a New York-based trader said. “Taking a little breather, I think.”

“As a dramatic week in [emerging markets] comes to a close, for the first time in months the prospects of a deal ending the Ukraine conflict seem very real,” a London-based analyst said.

These developments – along with recent European Central Bank actions – pushed Russian bank bonds tighter by an average of 25 basis points.

Bonds from Ukraine benefitted from the move toward peace, with sovereign notes moving as much as 1½ points higher into the end of the week, said Svitlana Rusakova of Dragon Capital.

Also getting a boost were bonds from Turkey and Central and emerging Europe, with Turkish banks tightening an average of 17 bps and good demand sighted for Turkiye Is Bankasi AS’ (Isbank) 2019s.

In other news, Chile’s Empresas CMPC SA will set out on Sept. 8 for a roadshow to market a possible issue of notes, a syndicate source said.

China Great Wall Asset Management Corp. will set out on Sept. 8 for a roadshow to market a dollar-denominated issue of notes, a market source said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.