Georgian Oil schedules roadshow for possible bond deal; Isbank, Poland notes trade better

By Aleesia Forni

New York, April 4 – Georgian Oil and Gas Corp. announced on Monday plans to bring to market a possible bond offering.

The company said it mandated J.P. Morgan Securities LLC and Barclays to arrange a series of investor meetings set to kick off this week, according to a market source.

The meetings are set to take place in the United States from April 6 to April 8 and move to London from April 11 to April 12.

Georgian Oil and Gas is a Tbilisi, Georgia-based company focused on the exploration, production, transportation and sales of oil and gas resources.

Moving to the secondary market, Turkey’s Turkiye Is Bankasi AS’s (Isbank) $750 million 5 3/8% notes due 2021 that priced at a 420-basis-point spread last week was quoted on Monday at 416 bps bid – 2 bps better compared to Friday’s close.

Deutsche Bank, HSBC, ING, JPMorgan and Societe Generale were the bookrunners for the Rule 144A and Regulation S deal.

In other trading, Poland’s $1.75 billion of 3¼% notes (A2/BBB+/A-) that sold at Treasuries plus 150 bps on Wednesday traded around 1 bp better during the session.

The notes were quoted at 143 bps bid.

Barclays, BNP Paribas, Deutsche Bank and JPMorgan were the bookrunners for the Securities and Exchange Commission-registered deal.

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