Americas
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The largest and best rated airline in Latin America has mandated six banks to lead a bond sale as it prepares to issue $500m-$700m of senior unsecured bonds. -
Corporación Nacional del Cobre de Chile, the largest copper producer in the world, became the first Latin American quasi-sovereign to tap bond markets this year as it returned to the long end of the curve.
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CPPIB Capital and NRW.Bank brought well received 10 year euro green bonds on Monday, following the completion of their respective investor calls last week. Elsewhere, KfW has mandated for a euro benchmark in the five year part of the curve, having issued in the 10 year segment earlier in the month.
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A surprise deal to fund the US government for three weeks, announced last Friday, has given hope to IPO potentials that there will be progress for the large backlog of new listings waiting for the regulator to comment on their filings.
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Brazilian building materials company Votorantim Cimentos has increased the size of a tender offer and given bondholders more time to participate, it said on Friday.
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Mexican non-bank lender Crédito Real has cancelled a tender offer and will now issue a smaller bond than initially planned, owing to market concerns regarding potential government policy, GlobalCapital understands.
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In this round-up, Ping An Bank’s latest convertible bonds broke demand record, state-owned enterprises posted strong growth, and Traiana partnered with Hong Kong Exchange and Clearing to provide OTC clearing.
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Investors who took a chance on an unusual ice-breaker for the 2019 Latin American corporate bond market were rewarded on Thursday as the bond was up 2.75 points the day after pricing.
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Citigroup’s first green bond issue has been a long time in coming, but the issuer was elated with the result of the €1bn deal on Wednesday, which was sold into a bond market where investors had slammed the risk pedal to the metal.
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South American sovereign Colombia pulled off what one banker called a textbook trade on Wednesday, finding strong demand, tightening significantly from price talk, and then seeing the notes edge tighter in the secondary.
