Central America

Mexican IT infrastructure provider Kio Networks was unable to budge pricing on its second ever international bond on Thursday, but market participants following the deal said the company should be happy with the result amid tough market conditions.

Latin America’s only new issue of the week was down in the grey market on Thursday, despite investors singing the praises of the credit as bankers said the region’s bond markets were struggling to gain momentum in the face of bulging pipeline.

Cometa Energía, a group of Mexican energy assets to be acquired by emerging markets private equity firm Actis, is understood to be preparing a bond issue of $907m that will be used to finance the buy-out.

Grupo Bimbo, the world’s largest bread maker, began meeting fixed income investors on Thursday ahead of a proposed perpetual hybrid bond as Latin American issuers continue to look to bring unconventional structures to market.

Mexican food producer Sigma Alimentos was the only Latin American borrower to issue internationally this week as bankers said that issuance conditions remained difficult.

French lender BNP Paribas has hired Deutsche Bank’s head of Mexican corporate client coverage as managing director and country head for Mexico as it prepares to obtain a banking license in the country.

Mexican funding officials will visit Tokyo next week to update Japanese bond buyers, GlobalCapital understands.

Latin American sovereign Mexico will be visiting Tokyo next week to update Japanese bond buyers, GlobalCapital understands.

Mexican state-owned giant Pemex will buy back $1.8bn of old bonds in the second leg of a liability management exercise funded by its recent bond issue.

As investors turn their eyes to Mexico’s forthcoming presidential elections, Fitch said the country’s economic and fiscal resilience would be tested this year.

As investors turn their eyes in earnest to Mexico’s forthcoming presidential elections, Fitch said that the country’s economic and fiscal resilience would be tested this year.

Mexican state-owned oil giant Pemex will more than double the size of its 30 year bond issued on February 1 after receiving a strong response to an exchange offer.