Central America

The Central American Bank for Economic Integration could return to benchmark issuance in 2017, after this week selling $72m-equivalent of green paper to Japanese retail investors in its first ever SRI transaction.

Bancomext, the Mexican government development bank run by the country’s former public debt chief, Alejandro Díaz de León, will ready a subordinated bond issuance on Wednesday with investor meetings in five cities.

Honduras-headquartered development bank Cabei (Central American Bank for Economic Integration) has issued its first ever green bond through a South African rand-denominated note sold to Japanese retail investors.

Chilean state-owned oil company Empresa Nacional de Petróleo (Enap) will look to tap the bond markets next week to fund a buyback of existing debt as Latin American companies continue to turn to tender offers just as often as the new issue market.

Citigroup has issued on Thursday an unusual €374m bond, exchangeable into shares of Telekom Austria, as part of a deal that enabled América Móvil to reduce its stake in the company, fulfilling an earlier promise, without suffering a big fall in the share price.

Financiera Independencia (Findep), the Mexican microfinance lender, has given bondholders an extra two weeks to earn the early bird fee on its tender offer despite receiving a strong initial response.

Two high yield companies reminded bond markets that there’s life in Latin America outside of Argentina by selling dollar deals linked to liability management exercises this week.

Mexican state-owned oil company Pemex was expected to raise ¥80bn ($759m) of 10 year Samurai bonds on Friday morning Japan time in its first yen deal since 2008.

Mexican state owned oil company Pemex is expecting to price a 10 year Samurai bond on Friday morning Japan-time in what would be its first yen-denominated deal since 2008.

Mexican microfinance lender Crédito Real has hired three banks to manage an investor roadshow and tender offer as it looks to push out debt maturities.

The UK’s vote to leave the European Union on Thursday put paid to at least two bond announcements in Latin America but traders said the reaction in secondary markets was nowhere near as brutal as expected.

Several Latin American borrowers are lining up bond roadshows, undeterred by the UK’s vote to stay or leave the European Union, to add to the six names already in the visible pipeline.