Liverpool rushes through 10 year as volatility hits LatAm

By Oliver West
25 Sep 2014

Mexican debut issuer Puerto de Liverpool attracted solid demand for 10 year bonds on a torrid Thursday for bond markets. Being able to tighten by 10bp from initial price thoughts enabled the company to clinch funding at just 15bp wide of where investors saw fair value, though on another day the credit may have been able to price even tighter, they said.

After a volatile couple of weeks, some investors said the sell-off that began on Thursday could mark the start of a longer downturn for LatAm bonds, while others said the market was growing ever harder to read.

“Markets seeming to bounce around a bit,” said one LatAm bond ...

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