Americas

Peruvian fresh food exporter Camposol tightened pricing on its new bond by well over 50bp from initial price thoughts on Tuesday as bankers said the price discovery exercise had exceeded expectations.

Colombian financial conglomerate Grupo Aval found idyllic conditions on its return to international bond markets on Tuesday after an eight absence, offering a minimal concession to existing notes issued by its largest subsidiary.

Olaf Diaz-Pintado has been named head of Goldman Sachs’s cross markets group for Europe, the Middle East and Africa, while the bank has appointed new regional heads for its financial and strategic investors group.

Bankers and investors say that the Province of Buenos Aires is facing difficulties in persuading 75% of bondholders to support a two month delay in debt payments, prompting the government to offer a sweetener in the shape of advance interest payments.

Mexico’s largest airline Aeromexico will begin meeting fixed income investors on Monday as it plots what would be its first ever international bond issue.

Citic Capital Acquisition Corp, a special purpose acquisition company (Spac), has filed for a $200m IPO. It is targeting companies in the energy efficiency, clean technology and sustainability sectors.

Three Latin American companies issued bonds on Thursday and three more are meeting investors, as borrowers of all shapes and sizes assess the appetite for their debt.

Investors saw Colombia’s decision to hit international bond markets on the day a national strike was planned as a statement of intent. But concerns over social unrest, or indeed a challenging fiscal outlook, paled into insignificance as yield hungry investors took the chance to buy into what remains an economic outperformer in Latin America.

Two long-established, but long-absent, Brazilian issuers have turned to international bond markets as US dollar bonds become a more competitive option for the country’s issuers.

Chile completed its $3.3bn of external funding needs for the year in two days this week, tapping both euro and dollar markets for green bonds that EM accounts say are becoming increasingly important for their end investors.

After Mexican state oil company Pemex paid very little to issue a 40 year bond, rather than a 30 year, on Tuesday, two days later, the Dominican Republic opted for the same rare maturity.

JP Morgan has created a Development Finance Institution (DFI), which will see its investment bank originate and distribute assets scored on their developmental impact. But specialists have questioned the bank’s ambitions and raised concerns about how this unit will operate.