MENA calendar grows as Qatar taps banks for triple trancher; new Turkcell notes firmer

By Rebecca Melvin

New York, April 6 – After a smattering of new issues that priced in hard currencies this past week, the emerging markets is looking at a busier calendar and a pickup of new issuance next week, market sources said on Friday.

Market players were gearing up on busy upcoming week for the Central & Emerging Europe, Middle East and Africa region as yet another deal – this one for Qatar – landed on the calendar.

Qatar follows Qatar-based corporate issuer, Mannai Corp., into the market with a dollar-denominated triple tranche offering of five-, 10- and 30-year notes.

Al Khaliji, Barclays, Credit Agricole, Credit Suisse, Deutsche Bank, Mizuho, QNB Bank and Standard Chartered are arranging roadshow meetings in the United States and United Kingdom starting on Tuesday, according to one source.

“It’s going to be a busy week,” a London-based syndicate source said.

In addition to Qatar and Mannai, Egypt is planning to price a two-tranche euro-denominated deal of eight- and 12-year notes; Oman Telecommunications Co. SAOG is planning to price two dollar tranches of five and 10 years; Dubai’s Damac Real Estate Development Ltd. is planning to price dollar five- and seven-year sukuk certificates; Noor Bank PJSC and Sharjah Islamic Bank are coming with five-year dollar benchmark sukuk; and KazMunayGas of Kahzakhstan is planning to price a dollar benchmark of seven-, 12- and/or 30-year notes.

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