Isbank, PTA Bank roll out new deals; Credit Bank of Moscow, KOKS, PhosAgro start roadshows

By Colin Hanner

Chicago, April 20 – Several new emerging market issues expected to come to market were released on Thursday, market sources said, with a handful of roadshows starting on the session, as well.

Turkey’s largest bank, Turkiye Is Bankasi AS (Isbank), is expected to issue dollar-denominated seven-year notes with initial price talk announced to be in the 6 3/8% area, a market source said. Another market source said later Thursday that guidance was in the 6¼% area, plus or minus 5 basis points.

Burundi’s Eastern and Southern African Trade and Development Bank, commonly known as PTA Bank, will sell additional dollar-denominated five-year senior notes with initial price talk in the 5.3% area, a market source said.

Roadshows began on Thursday for Credit Bank of Moscow, KOKS Finance DAC, PhosAgro and Metalloinvest Finance DAC.

And 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.

Several Venezuela and Petroleos de Venezuela bonds were unchanged, or marginally higher, on the session.

In overall activity, all sights point toward another weekend of geopolitical events.

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