Comcel surprises with debut in unsure market after Santiago blowout

By Oliver West
31 Jan 2014

Guatemalan mobile company Comcel sold $800m of seven year non-call four bonds on Thursday, defying the expectations of some LatAm syndicate bankers who believed that the market was not ready for new high yield borrowers.

AA-/A rated Empresa de Transporte de Pasajeros Metro, which operates Santiago de Chile’s Metro, was the only other Latin American borrower to have issued this week, attracting $4bn of demand for a $500m 10 year and trading 10bp tighter on a spread basis by Thursday. But that issuer’s ...

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