Lat Am buyers finally find pricing resolve
Neither Brazilian pulp and paper company Fibria nor Mexican telco business Axtel were able to price new deals at the tight end of guidance on Thursday as syndicate bankers said a much-needed and predictable market correction had finally begun.
After Mexican baked goods company Grupo Bimbo priced exceedingly tight on Tuesday but underwhelmed in the secondary market, bankers said that investors were getting tired of an ever tighter market.
“Top notch companies are trying to break through historic spread levels and often succeeding, with negative new issue concessions,”
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