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MHP, PhosAgro, KOKS Finance to price soon; Senegal eurobond ahead; Saudi sovereigns inch up
By Colin Hanner
Chicago, April 18 – With markets fully open after an elongated Easter weekend for many parts of the globe, several new deals were whispered to be coming to market next week and weeks following.
MHP SA plans to start a three-day roadshow for an offering of six- or seven-year notes, with the size of the deal yet to be determined, a market source said.
Russian chemical holding company PhosAgro announced a mandate for investor meetings for a new dollar-benchmark deal, a market source said.
KOKS Finance DAC is expected to price new loan participation notes as a part of a refinancing that includes a cash tender offer for holders of its 10¾% notes due 2018, the company said.
The terms of the new notes will be made on or before May 5, the settlement date for the tender offer.
Senegal finance minister Amadou Ba said on Friday the country will issue a eurobond in the coming weeks, according to several media reports.
On Tuesday, Saudi Arabia’s sovereign bonds climbed fractionally on the session.
Its 2 3/8% notes due 2021 were quoted with a 98.15 bid, 98.27 offer in the morning session, ascending to a 98.22 bid, 98.37 offer later in the day.
And its 3¼% notes due 2026 were quoted with a 97.37 bid, 97.62 offer, 5 basis points higher compared to the morning.
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