Lat Am quiet but issuers could play post-election

Mexico, BBVA, Bancomer, Mexico City, skyscrape, Paseo Reforma, 575, LatAm
By Oliver West
29 Oct 2020

Total Play Telecomunicaciones’ failure to appear in primary markets this week was less surprising to bond bankers than the fact that the Mexican telco had planned to sell a debut deal the week before the US elections, as equity volatility in that country made for a weaker tone in Latin American credit markets.

Barclays, Credit Suisse and Jefferies had been marketing a proposed senior unsecured bond of up to $500m for B2/BB- rated Total Play, which provides triple play services including broadband and pay-TV on one of Mexico’s largest fibre-only networks. 

However, after concluding investor calls on Monday, ...

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