PGE Polska, Qingdao City Construction join forward calendar; Greenland HK issues bonds

By Aleesia Forni

Virginia Beach, Sept. 11 – PGE Polska Grupa Energetyczna SA and Qingdao City Construction Investment (Group) Ltd. announced new deal plans on Friday.

Qingdao is planning a dollar-denominated Regulation S perpetual note sale following a series of investor meetings that began on Friday, according to a market source.

Warsaw-based power company PGE Polska announced plans to begin a roadshow in the week ahead for a possible euro-denominated senior bond offering, according to a market source.

In other primary news, China’s Greenland Hong Kong Holdings Ltd. sold a $300 million offering of 4.3% notes due Sept. 16, 2017 at par, according to a market source.

Corporacion Nacional del Cobre de Chile’s (Codelco) recent $2 billion 4½% 10-year offering, which priced on Wednesday at Treasuries plus 250 basis points, was quoted around 2 bps wider in the secondary market.

A source quoted the issue (A1/AA-/A+) at 252 bps bid, 250 bps offered.

In other secondary market news, Export-Import Bank of China saw both tranches of its recent $1 billion issue of five- and 10-year notes (expected ratings: Aa3/AA-) trade weaker on Friday, a market source said.

The $500 million 2.85% notes due 2020, which priced Treasuries plus 130 bps on Wednesday, weakened 13 bps to 143 bps bid.

Also, the $500 million 3.8% notes due 2025 were 9 bps wider at 169 bps bid, 166 bps offered.

The tranche sold at Treasuries plus 160 bps on Wednesday.

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