Americas
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Argentine credit card company Tarjeta Naranja will look to issue international bonds for the first time after approving a bond sale of up to $300m. -
Argentine province La Rioja may have had to settle for a wider yield than some expected on its bond debut on Thursday, but a promising aftermarket performance provided some hope for the shrinking number of provinces yet to issue.
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The syndicated loan market may again be asked to underwrite a potentially record-breaking takeover loan, as Kraft Heinz has begun a pursuit of Unilever, including a large cash offer.
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Latin American trade bank Bladex is once again returning to the Asian loan market for a four year deal, marking its longest tenor borrowing from the region so far.
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Mexican issuers have earned the confidence of investors through years of astute market relations.
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Latin American new issue markets are in for a quiet period, said DCM bankers, though Argentina continues to throw up new borrowers.
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The Government of Belize has again extended the deadline for a consent solicitation aimed at easing its debt payment burden, but is yet to improve its offer to bondholders.
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Mexican oil giant Pemex and north African sovereign Tunisia both used the euro market for diversification plays this week, though the differing receptions each received highlighted the difficulties faced by EM high yield borrowers using the currency. Olly West and Virginia Furness report.
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Central American development bank Cabei re-opened its Australian dollar bonds for a further A$65m ($50m) on Thursday in its second outing in the Kangaroo market.
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The Province of Alberta's first ever sterling bond exceeded the "wildest expectations" of leads and onlookers. The deal demonstrated the strength of the sterling market and is likely to encourage the issuer's peers to follow suit.
