Turkey prices 30-year notes; Fibabanka follows with 10-year notes; Venezuela goes low

By Colin Hanner

Chicago, May 4 – Nearing the end of the week, two new deals priced from emerging markets on Thursday.

Turkey priced $1.75 billion 5¾% 30-year notes to yield 5 7/8%, the company reported in a Securities and Exchange Commission filing on Thursday.

Istanbul-based private bank Fibabanka AS sold $300 million 7¾% 10-year notes to yield 7.8998% on Thursday, a market source said.

Argentina’s Banco Macro SA priced $300 million equivalent of 17½% peso-denominated notes due 2022 at par, according to a Wednesday press release.

And, in Argentina’s sovereign space, activity was on the downside.

“As strong as we opened yesterday, we are opening weaker today,” a trader said of Argentina’s sovereign bonds.

Venezuela opened the morning lower amid lowering crude oil future prices and continuing protests that have attracted the attention around the world, with some U.S. senators even introducing legislation to target those involved in the country’s corruption, Reuters reported.

The state’s oil and natural gas company Petroleos de Venezuela SA’s 8½% notes due 2017 were up ¼ point to an 88¼ bid, 89¼ offer. Its 5 3/8% notes due 2027 were also down ¾ point on the day to a 37 bid, 38 offer.

As oil drifted to lows not seen in months on Thursday, Middle Eastern sovereigns were trending lower before crude future prices could touch below $46 a barrel.

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