Lat Am buyers reach down credit curve in ‘10 out of 10’ market

TV Azteca, Aztec, Mexico, LatAm
By Oliver West
20 Jun 2019

Mexican lender Banorte became the latest Latin American borrower to clinch new debt with exceedingly tight pricing on Thursday, as bond investors showed their hunger stretched beyond top-rated paper.

Chile and Peru, the highest rated two sovereigns in Latin America, and América Móvil, the region’s second best rated private sector borrower, had all issued with flat to negative new issue concessions in the past week.

Banorte followed this up with a $600m perpetual non-call five ...

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