Primary hosts State Bank of India, Yanlord, Times Property, DBS Bank; Jain, Vedanta ahead

By Christine Van Dusen

Atlanta, Jan. 17 – State Bank of India, Singapore’s Yanlord Land Group Ltd., China’s Times Property Holdings Ltd. and Singapore’s DBS Bank Ltd. sold notes on an upbeat Tuesday for emerging markets assets.

“Markets continue to benefit from the positive sentiment as the U.S. is coming back from a long weekend,” a London-based analyst said. “This week’s next spectacle will take place on Friday when Donald Trump will be inaugurated to become the 45th President of the country.”

Against this backdrop, other issuers advanced deals, including India’s Jain Irrigation Systems Ltd., emerging markets-focused Vedanta Resources plc and Slovenia.

Jain Irrigation Systems will set out on Wednesday for a roadshow to market a dollar-denominated issue of green notes (expected ratings: /B+/B+), according to a company announcement.

Vedanta Resources is planning to sell new bonds alongside cash tender offers for its $750 million 9½% bonds due 2018 and $1.2 billion 6% bonds due 2019, according to a company announcement.

Slovenia is planning to print a new issue of euro-denominated notes due in 10 years, as well as a tap of its 3 1/8% euro-denominated notes due Aug. 7, 2045, according to an announcement from the sovereign.

Market-watchers were also whispering about a possible issue of notes from Turkey-based Turkiye Vakiflar Bankasi, which could bring to the market up to $650 million of 10-year notes.

© 2015 Prospect News.
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