Central America

Mexican conglomerate Grupo Kuo sold $450m of 10 year non-call five notes on Thursday in its first international bond sale in five years, as bankers praised the issuer for its timing.

Mexico’s third largest lender Banorte will price its first ever Basel III-compliant additional tier one capital bond on Thursday after releasing initial price thoughts on Wednesday.

Pampa Energía’s peso-linked bond plans and Banorte’s proposed perpetual paper are the picks of Latin America’s bond pipeline, as the region’s issuers ready another wave of corporate issuance, despite a weaker market.

DCM bankers say that Taiwan’s Formosa market could offer compelling funding options for several Latin American bankers after Mexican utility CFE became the first Lat Am corporate to issue in it this week.

LatAm DCM bankers say they are expecting Mexican issuers CFE and Banorte to issue soon on the back of rating agency reports published late on Tuesday.

As the Mexican peso hovers around its strongest level since before Donald Trump won the US election last November, Grupo Kuo has announced fixed income investor meetings as it looks to refinance existing debt.

Mexican oil giant Pemex has met bond investors in New York as it prepares a possible bond issue later in the week.

Central American sovereign Guatemala sold $500m of dollar bonds on Wednesday in a deal that came roughly flat to its curve.

Autopistas del Sol, the concessionaire of Costa Rican highway Globalvia Ruta 27, sold $300m of 13.6 year amortising bonds on Wednesday as Latin America new issue markets continue to function despite political turmoil in Brazil.

Autopistas del Sol, the concessionaire of Costa Rican highway Globalvia Ruta 27, sold $300m of 13.6 year amortising bonds on Wednesday as LatAm new issue markets continue to function despite political turmoil in Brazil.

Autopistas del Sol, a Costa Rican toll road operator, could price a 13.6 year amortising bond as soon as Wednesday, according to bond investors.

Mexico City-based DCM bankers say that the mood among the country’s financial community has drastically improved since the start of the year, as Unifin on Wednesday became just the fourth Mexican credit to issue dollar debt in 2017.