Primary hosts TAQA, IHS, Zhuzhou City, Promsvyazbank, Tenaga; Fed to raise rates ‘soon’

By Christine Van Dusen

Atlanta, Oct. 12 – Abu Dhabi National Energy Co. (TAQA), Nigeria’s IHS Holding, China’s Zhuzhou City Construction Development Group Co. Ltd., Russia’s Promsvyazbank OJSC and Malaysia’s Tenaga Nasional Bhd. sold notes on Wednesday as the Federal Reserve announced it would raise rates “relatively soon.”

“It is calm on the data front otherwise,” a London-based analyst said. “Oil prices remain well-supported by the recent OPEC actions, despite having retreated from Monday’s peak levels. Comments from the sidelines of the World Energy Congress in Istanbul still remain supportive of a final deal to curb output in November, with President Putin also hinting that Russia is willing to join.”

Looking to Turkey, bonds gave back the previous week’s gains as rates and elections “give us the chills,” a trader said. “We are now flattening as the Street and some accounts have started to sell.”

In deal-related news, Netherlands-based Cable Communications Systems NV set talk at 5% to 5¼% for an upsized €350 million issue of notes due in seven years, a market source said.

Indonesia’s PT Alam Sutera Realty Tbk will set out on Thursday for a roadshow to market a dollar-denominated issue of notes (expected ratings: B2/B/B+), according to a company announcement.

Chile’s Enersis Americas SA plans to issue dollar notes, according to a company filing.

© 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.