Uruguay paid a new issue premium of 27bp for $2bn of new long 10 year notes on Tuesday, with the impressive size taking total LatAm international bond issuance on the first few days of this week to $4.85bn.
The previous LatAm
record for any week in August was $4.714bn in the first week of the month in
2011 – and that included $4.2bn from Venezuela.
DCM bankers said that
new issue concessions should not be the top of issuers’ concerns given that
rates are still close to historical lows.
This week Latin