Yanlord Land, GarantiBank price new issues; Mobile TeleSystems, Huaneng Power, IDB on deck

By Aleesia Forni

Virginia Beach, Va., May 16 - The emerging markets primary saw Yanlord Land Group Ltd. and Turkey's Turkiye Garanti Bankasi AS (GarantiBank) price new deals on Thursday, while a number of companies announced their intentions to host investor meetings in the weeks ahead.

Yanlord Land priced RMB 2 billion three-year senior notes, while GranatiBank sold A$175 billion 5½% notes due 2018.

Three companies came to market during the day's session to launch deals in the emerging markets sector.

Abu Dhabi Commercial Bank PJSC launched a CHF 150 million offering of notes, while Russia's OAO Sberbank set talk for its offering of 10-year notes in the area of 5¼%.

Singapore's GuocoLand Ltd. launched S$200 million of senior perpetual securities on Thursday at 4.7%, according to a company news release.

Thursday's session also saw Russia's Mobile TeleSystems OJSC announce its plan to price dollar-denominated notes following a roadshow that is set to kick off on Friday.

The week ahead is set to see China's Huaneng Power International Inc., Dubai's Emirates NBD PJSC, Islamic Development Bank and African Export-Import Bank hit the road.

Huaneng Power, African Export-Import Bank and Emirates NBD are all set to kick off roadshows on May 20 ahead of proposed respective dollar-denominated offerings.

Islamic Development Bank's investor meetings will begin on May 25.

Bankok-based energy company PTT Exploration and Production PCL is also planning a marketing trip, having mandated banks to arrange a roadshow ahead of a proposed bond offering.

In other emerging markets bond news, China International Marine Containers (Group) Co., Ltd. has postponed its proposed dollar-denominated offering of five-year notes.

Yanlord sells three-years

Yanlord Land sold on Thursday RMB 2 billion three-year senior notes at par to yield 5 3/8%, according to a company release.

The notes priced on top of talk.

Citigroup Global Markets Ltd., DBS Bank Ld., HSBC and Standard Chartered Bank (Hong Kong) Ltd. were the bookrunners for the Rule 144A and regulation S deal.

Proceeds will be used to finance existing and new projects.

Yanlord is a Singapore-based property developer.

GarantiBank new issue

In other primary action, GarantiBank priced A$175 million 5½% notes due 2018 at 99.574, according to a syndicate source.

HSBC was the bookrunner for the deal.

GarantiBank was last in the market with a TRY 50 million issue of 7 3/8% five-year notes, which priced on Feb. 28 at 99.487 to yield 7½%.

GarantiBank is a lender based in Istanbul.

ADCB launches

Abu Dhabi Commercial Bank PJSC launched on Thursday a CHF 150 million offering of 1 7/8% 10-year bonds in the area of mid-swaps plus 150 basis points, according to a market source.

Barclays and RBS are the bookrunners for the deal.

Abu Dhabi Commercial Bank was last in the market with a $1.5 billion issue of five- and 10-year notes, which priced on Feb. 26.

The $750 million 2½% notes due 2018 priced at 99.636 to yield 2.578%, and the $750 million 4½% notes due 2023 priced at 99.127 to yield 4.61%.

Sberbank sets talk

Thursday also saw Sberbank set talk for its offering of 10-year notes in the area of 5¼%, according to a market source.

JPMorgan, BNP Paribas, Sberbank and UBS Investment Bank are bookrunners for the Rule 144A and Regulation S deal.

The notes will be issued by SB Capital SA under Sberbank's $30 billion loan participation notes program.

The Moscow-based lender began a marketing trip on May 13 in the United States and Asia.

GuocoLand plans perpetuals

In other news on Thursday, Singapore's GuocoLand Ltd. launched S$200 million of senior perpetual securities on Thursday at 4.7%, according to a company news release.

The notes will be issued under the company's S$3 billion multicurrency medium-term note program.

The interest rate will be reset every three years.

The notes will be callable after three years.

Proceeds will be used for general working capital purposes.

The notes are expected to be issued on May 27.

The company was last in the market on May 3, selling S$125 million of seven-year notes at par to yield 4.1%.

GuocoLand is an investment holding company that focuses on real estate properties in Singapore, China, Malaysia and Vietnam.

Mobile TeleSystems eyes deal

Mobile TeleSystems OJSC announced on Thursday its plan to host a roadshow ahead of a proposed dollar-denominated Regulation S and Rule 144A bond offering, according to a company release.

The company may also offer an additional ruble-denominated tranche, subject to market conditions.

The roadshow will begin on May 17, and the company has mandated Gazprombank, J.P. Morgan and Royal Bank of Scotland to be the joint lead bookrunners.

Mobile TeleSystems is a telecommunications provider based in Moscow.

Huaneng plans dollar notes

Also on deck, China's Huaneng Power is scheduled to begin a roadshow on May 20 ahead of a possible dollar-denominated offering of notes, according to a market source.

JPMorgan, BOC, DBS and BS Bank are arranging the roadshow.

The company was last in the market on Jan. 30 with RMB 1.5 billion three-year notes at par to yield 3.85%.

Based in Beijing, Huaneng develops, constructs and operates large power plants in China.

Emirates NBD roadshow

Dubai's Emirates NBD also plans to hold investor meetings beginning on May 20 ahead of a proposed dollar-denominated bond offering, according to a syndicate source.

Meetings will take place in Asia, Europe and the United Arab Emirates.

Emirates, BofA Merrill Lynch, ING, Morgan Stanley, Deutsche Bank Securities and HSBC are arranging the roadshow.

Emirates NBD is a provider of corporate, consumer, treasury and investment banking and asset management services.

IDB taps bookrunners

In other forward calendar news, Islamic Development Bank has plans to hold investor meetings ahead of a possible dollar-denominated sukuk offering, according to a market source.

Standard Chartered, Barwa Bank, Credit Agricole, CIMB, Natixis, National Bank of Abu Dhabi, NCB and RBS are arranging the meetings.

The meetings will begin on May 25 and make stops in Asia, the Middle East and Europe.

Islamic Development Bank is a lender based in Jeddah, Saudi Arabia.

African ExIm Bank roadshow

African Export-Import Bank announced on Thursday that the company has scheduled a roadshow beginning May 20 ahead of a possible benchmark-sized dollar-denominated bond offering, according to a market source.

The meetings will be held in Asia and Europe.

HSBC Securities, Commerzbank, Mitsubishi UFJ Securities and Standard Bank will be arranging the meetings ahead of the proposed Regulation S transaction.

Afreximbank is a Cairo, Egypt-based international bank specializing in trade related financing for Africa.

PTTEP marketing trip

Elsewhere, PTTEP mandated banks to arrange a roadshow ahead of a proposed issue of up to $1 billion perpetual bonds, according to a market source.

HSBC, Goldman Sachs, UBS and Standard Chartered are arranging the investor meetings.

PTTEP is a Bangkok-based energy and exploration company that is 65% owned by the government of Thailand.

CIMC shelves deal

China International Marine Containers has postponed its proposed dollar-denominated offering of five-year notes, according to a market source.

The company had previously set price talk in the Treasuries plus 265 bps area.

UBS, Standard Chartered Bank, ANZ, BofA Merrill Lynch, HSBC, ING and JPMorgan were the bookrunners for the Regulation S deal.

The notes included a change-of-control put at 101%.

Proceeds were to be used to refinance loans and for general corporate purposes.

The company is a transportation equipment company based in Shenzhen, China.

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