Triple whammy for LatAm firms as buyers balk at prices

Three Latin American companies backed away from the dollar high yield market this week as investors pushed back on price in an atmosphere of renewed uncertainty over Greece.

  • 17 Feb 2012

On Wednesday, B2 rated Argentinian electricity company Edesa failed to get away a planned $65m issue, while deals from Brazilian airline Gol, rated B1/BB-/BB-, and the City of Buenos Aires were pulled the following day.

Syndicate officials said pricing was the main stumbling block for all three. "Investors are ...

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All Corporate Bonds

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5 Barclays 89,036.16 395 4.43%

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5 SG Corporate & Investment Banking 15,665.73 86 5.64%

Bookrunners of European HY Bonds

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5 Barclays 4,263.74 37 5.55%

Bookrunners of Dollar Denominated HY Bonds

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1 JPMorgan 29,820.93 232 10.58%
2 Citi 23,746.29 188 8.42%
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4 Goldman Sachs 20,887.87 148 7.41%
5 Barclays 19,256.47 129 6.83%

Bookrunners of European Corporate IG Bonds

Rank Lead Manager Amount $m No of issues Share %
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1 Deutsche Bank 23,833.79 81 6.48%
2 HSBC 23,751.92 108 6.46%
3 Barclays 23,497.73 103 6.39%
4 BNP Paribas 23,234.24 113 6.32%
5 Citi 20,118.07 85 5.47%