Central America

Mexican state oil company Pemex returned to bond markets on Tuesday after weeks of speculation to find a wide open market and easily clinch a $2bn long 10 year broadly praised by bankers.

A long-awaited dollar deal from Mexican state oil giant Pemex gave proof that there was plenty of liquidity in Latin American bond markets as the borrower squeezed pricing on the back of a hefty book after putting out juicy price talk.

The Central American renewable energy subsidiary of multinational conglomerate Corporación Multi Inversiones (CMI) will begin investor meetings on Friday as it seeks to become the first debut issuer from Latin America since May.

Mexican home appliances company Controladora Mabe will look to raise up to $370m of senior notes as three companies from Latin America look to international bond investors despite a soft market tone.

Mexican home appliances company Controladora Mabe is looking to buy back bonds due next year as Latin American companies continue to focus on liability management.

Top investment-grade names from Latin America could find a strong reception if they dare to approach primary bond markets, said bankers, after one of the best rated corporates in the region filed a debt shelf with the SEC.

Central American multilateral Cabei (Central American Bank of Economic Integration, otherwise known as BCIE for its Spanish name) has appointed a new executive president who will begin his role on December 1.

Cobre del Mayo, which operates the third largest copper mine in Mexico, is looking to use a bank loan to buy back debt at deeply depressed prices in attempt to cut its debt burden.

The Mexican arm of Spanish lender Santander wrapped up a buyback of subordinated tier two debt on Thursday as DCM bankers said they expected cross-border issuance from the country to remain muted.

The Mexican arm of Spanish lender Santander sold $1.3bn of new tier two bonds on Thursday, with the parent company taking 75% of the deal as it looked to extend the maturity of its tier two capital.

Honduran lender Banco Atlántida will meet bond investors ahead of a proposed green bond as Latin American primary markets slowly creak into life.

Soft demand and higher costs continue to hit Grupo Kaltex, leading Standard & Poor’s to downgrade the Mexican textiles company to B- last week and maintain the bonds on negative outlook.