Qatar $12 billion deal attracts ample interest; Montenegro launches; LatAm deals on tap

By Rebecca Melvin

New York, April 12 – Qatar announced on Thursday that it was pricing three series of notes due 2023, 2028 and 2048 following the conclusion of roadshow meetings.

The sovereign was expected to price $12 billion across the three tranches with a skew toward the 30-year notes and looking like a modest sum compared to an order book that a syndicate source reported was more than $53 billion.

Also in the primary market on Thursday, Montenegro launched €500 million of seven-year notes to yield 3 5/8%.

Latin America saw two deals come off its forward calendar for pricing on Thursday as well as two new deals announced to price.

Uruguay announced a new 2055 bond, which was being talked at a yield spread of U.S. Treasuries plus 235 bps initially.

Among the three corporate deals, Banco do Brasil SA announced and priced a $750 million five-year bond at par with a 4 7/8% coupon compared to initial talk in the low-5% area.

And from the calendar, Grupo Bimbo SAB de CV priced $500 million of 5.95% hybrid securities on Thursday at par, with a yield spread of U.S. Treasuries pus 328 bps, a New York-based market source said.

And RioPrevidencia priced $600 million of 10-year dollar notes at par for an 8.2% coupon, compared to talk in the mid-8% area.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.