Americas
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South American sovereign Uruguay followed up its lowest inflation print for 12 years with its first ever nominal global peso-denominated bond on Monday. -
Bond investors shrugged off state-owned oil company Petroperu’s low credit quality to pile into its debut deal in remarkable fashion as the issuer sold 15 and 30 year bonds at a tighter spread to the sovereign than its Mexican counterpart Pemex.
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Bank Nederlandse Gemeenten slam-dunked a single day euro execution on Monday into a market buzzing from a pair of eurozone election results over the weekend. Another two issuers have lined up euro deals — including one debut.
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Argentine candy maker Arcor is looking to tap its existing dollar-denominated 2023s as soon as Tuesday after mandating the same three banks that ran its original bond issue to manage the deal.
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South American sovereign Uruguay is likely to be the next Latin American issuer to tap debt markets as it wraps up an international roadshow ahead of a planned Uruguayan peso-denominated fixed rate bond issue.
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Venezuela and state oil and gas firm PDVSA bonds tumbled this week as the government missed a payment on a loan to Russia, continued to seek new funds at what one analyst called “loan shark” rates, and was dealt a further blow as oil prices slumped.
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Argentina is looking to issue euro denominated bonds towards the end of this month, finance minister Luis Caputo said on Wednesday.
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US banks this week took a breather from the torrent of issuance related to meeting total loss-absorbing capacity (TLAC) requirements, preferring instead to hit the market with ineligible, short dated senior unsecured trades.
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Issuers got a good reception as they tapped the market ahead of a trio of market-moving events on Thursday as investors continued to pour cash into the asset class.
