The Republic of Macedonia has mandated Citi, Deutsche Bank and Erste Group to arrange a euro denominated bond. The team will visit Europe and the US on a roadshow that started on Wednesday and ends Monday, November 9. Macedonia, rated —/BB/BB+, last sold an international bond in July 2014, pricing a €500m 2021 deal.
Société Générale and Standard Chartered Bank are mandated for —/B/B rated Cameroon’s deal. When the mandate was announced in February, a document on the website of President Paul Biya specified a deal of about $1.5m, but also said this equates to CFA Fr750bn. Converting the local currency at current rates indicates a deal size of $1.3bn, which is a more likely amount for a bond led by two international banks. Proceeds of the deal will be used to refinance some of the debts of Sonara, the country’s only oil refinery, as well as the construction of two roads and various other infrastructure projects. The government finishes a roadshow on November 11.
The other two fresh mandates came from the Middle East, which is still dominating the CEEMEA pipeline. The Commercial Bank of Dubai (CBD) mandated six banks to arrange a Reg S dollar benchmark bond, and started a roadshow for the deal on Thursday. Citi, ING, JP Morgan, NBAD, Natixis and Standard Chartered Bank are joint lead managers.
Investor meetings started in Singapore on Thursday and finish in London on Monday November 9. CBD’s only previous international deal is a $500m 3.375% 2018 deal from May 2013, according to Dealogic.
National Bank of Oman, meanwhile, has mandated five banks for a dollar perpetual additional tier one bond and started investor meetings on Thursday.
Bank of America Merrill Lynch, Citi, Crédit Agricole CIB, National Bank of Abu Dhabi and Standard Chartered Bank are joint lead managers on the Reg S note. The roadshow finishes in London on November 10. The bank, rated A3/—/BBB, sold a debut $500m 3.125% five year senior deal in September last year.