Colombia

Though market tone has shown a marked improvement over the last week, Lat Am bond buyers say that they are not expecting to see much new supply until September — and nor do they want any.

Colombian utility Empresas Públicas de Medellín (EPM) saw its bond prices slide at the end of last week after the environmental licencing authority issued a resolution appearing to suspend certain activities at the landmark Ituango hydroelectric project.

Frontera Energy, the Lat Am-focused Canadian oil and gas company, saw its new international bond trade up in the secondary market on Thursday as EM buyers found several justifications for why the deal had been priced relatively cheaply.

Colombo-Canadian oil and gas company Frontera Energy has returned to primary markets for the first time since it was called Pacific Rubiales with a five year non-call three trade.

There has been no relief rally in Colombian bonds after right winger Iván Duque eased to victory in Sunday’s presidential elections, as tricky boarder conditions outweigh the positives for the South American country.

Less than two years after it completed a restructuring in which all of its existing debt was wiped out, Frontera Energy is plotting a return to primary bond markets.

Former Colombian president and one time market darling Álvaro Uribe’s cherry-picked candidate won the first round of the presidential election on Sunday, giving investors some relief amid tough markets.

Colombia’s inter-parliamentary Public Credit Commission on Tuesday approved a sovereign guarantee to Empresa Metro de Bogotá, the company managing the proposed construction of the city’s first subway line, opening the possibility of a bond issue.

Colombia’s inter-parliamentary Public Credit Commission on Tuesday approved a sovereign guarantee to Empresa Metro de Bogotá, the company managing the proposed construction of the city’s first subway line, opening the possibility of a bond issue.

Public holidays in the US and UK gave bond markets an extra 24 hours to digest the results of Sunday’s presidential election in Colombia, though analysts are expecting little change as the first round of the vote went as expected.

South American development bank CAF (Corporación Andina de Fomento) sold its first ever green bond this week, raising Ps150bn ($52.2m) of Colombian peso-denominated bonds.

South American development bank CAF (Corporación Andina de Fomento) sold its first ever green bond this week, raising Ps150bn ($52.2m) of Colombian peso-denominated bonds.