Argentina

Aeropuertos Argentina 2000’s new 10 year bond traded up more than a point and a half this week, and lender Banco Supervielle sold $300m of peso-linked bonds to underscore continued demand for Argentine credit.

Entre Ríos raised $350m of bonds with an average life of seven years on Wednesday in a debut bond issue that put it second widest on the spectrum of Argentine provincial issuers.

Argentine airport operator Aeropuertos Argentina 2000 saw its new 10 year bond trade up around a point on Tuesday as Latin American corporates extended their stay in a friendly primary market.

Argentine airport operator Aeropuertos Argentina 2000 fetched a new 10 year bond some 30bp inside initial price thoughts on Monday to become the fifth issuer, and fourth corporate, from the country to issue this year.

AES Argentina priced a new seven year bond well inside the expectations of much of the market on Thursday as conditions recovered quickly after a wobble at the end of last week.

Donald Trump’s inauguration as US president had no effect on Latin American bond markets, said syndicate bankers, although a sell-off in US Treasuries meant the buoyant market tone had softened by the end of the week.

Argentina found ample demand for its latest dollar-denominated bond sale on Thursday as investors found reassurance in the South American country’s ability to diversify its funding.

Argentine energy company Pampa Energía clinched pricing that was at least flat to its closest comps on its debut bond issue, said EM syndicate bankers, as corporates from the country look set to keep taking advantage of their newfound popularity.

Argentina had attracted nearly $15bn of orders for its latest dollar issuance by Wednesday’s close, as both investors and bankers following the deal said they thought the sovereign may issue more than the $5bn it initially planned to sell.

Argentine energy company Pampa Energía clinched pricing that was “very competitive” versus peers on its debut bond issue, said EM syndicate bankers, as borrower-friendly conditions showed no sign of fading ahead of Argentina’s crucial sovereign bond issue on Thursday.

All seven new issues to emerge from Latin America last week ended Friday above their respective reoffer prices to reiterate the favourable conditions available to the region’s borrowers.

Argentina could not wish for better market conditions as it prepares its crucial first bond of 2017, said Lat Am bankers this week. After many sleepless nights for DCM bankers pitching the deal, the South American sovereign on Wednesday mandated bookrunners, writes Oliver West.