Mexico prices $1.88 billion deal; Jordan guides 30-year notes; Cydsa sells 10-year notes

By Rebecca Melvin

New York, Oct. 2 – Emerging markets began the fourth quarter on Monday in much the same way it closed out September and the third quarter last week, with more new deals, including two 30-year sovereign deals from Mexico and Jordan.

Also pricing was Cydsa SA de CV’s new $330 million issue of 10-year notes. And Docuformas SAPI de CV was heard in the market with a small deal of five-year notes talked at a 9½% yield.

There were also a couple of deals on roadshow, including Brazil’s Aegea Saneamento, which was wrapping up meetings on a $400 million deal of seven-year notes on Monday.

The Middle East, including new paper from Jordan, was the market’s main focus, however, a New York-based said of Monday’s session.

Jordan launched a dollar benchmark early Monday that was later talked at $1 billion in size with a yield of 7½%.

Meanwhile, Mexico also launched a dollar benchmark, which later priced as a $1.88 billion deal, with a 4.6% coupon.

Mexico’s deal did not prompt a notable amount of trading in the sovereign’s existing curve, a trader said. Instead, Brazil and Petroleo Brasileiro SA (Petrobras) were a focus and traded actively, he said.

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