Mexico sells eurobond; Turkey, Shinhan Bank do deals; Ras al-Khaimah, Petronas active

By Aleesia Forni

Virginia Beach, April 8 – Mexico, Turkey and South Korea’s Shinhan Bank issued bonds on Wednesday, while bonds from Ras al-Khaimah and Malaysia’s Petroliam Nasional Bhd. (Petronas) were active in the secondary market.

“Plenty of new issue’s this week so that will be distracting people for the most part,” a market source said, adding that he expects volumes to remain low.

Shinhan Bank attracted around $4 billion of orders for its new $600 million five-year dollar deal.

Mexico sold a euro-denominated offering of 100-year global bonds during the session tight of price guidance.

In the day’s other sovereign new issue, Turkey priced its $1.5 billion offering around 15 bps tight of price talk.

“Had a little bout of profit taking as the U.S. Treasuries dipped towards 1.915%,” a trader said. “However, the market still retains a solid bid [and] tone.”

The trader noted popularity in Ras al-Khaimah’s 2025s, which traded tighter before fading slightly to near 100.01, still around 9 basis points better on the week.

Bonds from Dar al-Arkan Holdings, Damac Real Estate Development Ltd. and Kuwait Energy were also active in trading from that region.

In the Asians space, Petronas’ bonds traded around 5 bps to 10 bps to tighter on the day.

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