China Metallurgical, CapitaLand sell notes; Ukraine crisis persists; Lat-Am in holding pattern

By Christine Van Dusen

Atlanta, Aug. 21 – China Metallurgical Group Corp. and Singapore’s CapitaLand Ltd. sold notes on Thursday as paper from Ukraine continued to decline on news that Russian trucks will be searched at Ukrainian checkpoints.

The 2023s have declined by about 1 percentage point, trading at 90.70 bid, 91.70 offered.

Among corporates, Metinvest BV saw its 2015s drop by as much as 4 percentage points to 79 bid, 81 offered while its 2018s moved down 7½ points to 68 bid, 70 offered.

For bonds from Latin America, Thursday’s session was largely uneventful, a New York-based trader said, with sparse volumes as spread-based credits remained firm.

Mexico’s Cemex SAB de CV and banks from Colombia were in a holding pattern, and high-grade credits were difficult to source, he said.

Corporates from Chile outperformed, with high-grade names firming and paper difficult to find.

High-grade names from Brazil continued to tighten on light volumes, he said.

In deal-related news on Thursday, China-based industrial gas producer Yingde Gases Group Co. Ltd. set talk at 7.4% to 7½% for a $250 million issue of 5½-year notes, a market source said.

And market sources were whispering about a possible issue of Singapore dollar-denominated notes from Indonesian conglomerate PT Asuransi Sinar Mas via OCBC and UBS.

© 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.