Primary hosts Vietnam, HNA Group, Global Liman; Wanhua, Eurasian Bank could issue notes

By Christine Van Dusen

Atlanta, Nov. 6 – Vietnam, China’s HNA Group International Co. and Turkey’s Global Liman Isletmeleri AS priced notes on Thursday as some selling was seen for long-dated Middle Eastern bonds after a move lower in U.S. Treasury rates.

“Once again, some decent clips going through on certain bonds,” a London-based trader said. “Euro bonds, what limited ones there are, retain a decent bid. Fairly active day.”

Perpetual bonds remained popular, he said, with Emirates Islamic Bank PJSC’s issue moving to new highs.

Looking to Turkey, the 6 5/8% notes due in 2045 were seen on Thursday morning at 119.12 bid, 119.62 offered after trading on Wednesday morning at 119 bid, 119.85 offered. The notes priced at 99.026, a trader said.

And from Ukraine, trading has been mostly quiet so far this week, with sovereign bonds barely moving on light flows, said Svitlana Rusakova of Dragon Capital.

In deal-related news, India’s Indiabulls Financial Services Ltd. set talk in the 10¼% area for a dollar-denominated issue of benchmark-sized notes due in five years, a market source said.

China’s Wanhua Chemical Group Co. Ltd. will set out on Nov. 10 for a roadshow to market a possible issue of notes, a market source said.

And Kazakhstan’s JSC Eurasian Bank is looking to issue $500 million of notes, a market source said.

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