Latin America

  • Braskem buys back bonds with eyes on IG

    Braskem buys back bonds with eyes on IG

    Braskem, the Brazilian petrochemicals company downgraded to junk last year, will use cash to repurchase over $230m of bonds as it reduces its debt ratio to regain investment grade status.

  • LatAm pauses as market softens but bankers calm on Fed moves

    LatAm pauses as market softens but bankers calm on Fed moves

    Latin America bond market participants saw signs this week that risk appetite is waning, with recent deals under par in secondary markets. Added to a more hawkish stance from the US Federal Reserve, bankers and investors expect issuance from the region to slow.

  • Suriname hits back at bondholders

    Suriname hits back at bondholders

    The government of Suriname on Tuesday accused its bondholders of taking an “unconstructive and confrontational stance” after the creditor committee had on Monday opted to exercise an option that allowed them to cancel the payment relief previously offered to the sovereign.

  • Mastellone falls short on distressed exchange

    Mastellone falls short on distressed exchange

    Mastellone Hermanos, the largest dairy company in Argentina, has fallen short of getting the bondholder support it needs for its proposed distressed exchange offer. The borrower, which is dealing with the fallout from capital controls in its home country, needs the support of another 1.47% of its bondholders to proceed with the offer.

  • Brazilian utility issues but LatAm lights to dim

    Brazilian utility issues but LatAm lights to dim

    Light, the fifth largest energy distributor in Brazil, issued $600m of five year bonds on Tuesday to wrap up a hectic period of LatAm high yield issuance. But the primary market is likely to take at least a one day pause as recent issues trade softly and the US Federal Open Market Committee (FOMC) concludes a two day meeting on Wednesday.

  • JBS shows SLB label is nothing without scrutiny

    JBS shows SLB label is nothing without scrutiny

    Brazilian meatpacker JBS made an apparently impressive entry into the world of ESG debt last week with a well received sustainability-linked bond (SLB). While an SLB is an encouraging first step for a company that has for years been under the scrutiny of environmental campaigners, the KPIs in the deal cover a fraction of the company’s emissions, and the deal shows investors need be tougher on SLB issuers if the format is to have value.

  • Credit Suisse hires for Brazil DCM

    Credit Suisse hires for Brazil DCM

    Credit Suisse has hired from a European rival to lead its Brazil DCM efforts as it edges up the LatAm bookrunner league tables.

  • Suriname creditors pull termination trigger with fraught talks ahead

    Suriname creditors pull termination trigger with fraught talks ahead

    A group of Suriname’s bondholders on Monday followed through on their threat to cancel the payment relief that they had offered the sovereign, effectively pushing the government into technical default. But the move only supports expectations that restructuring negotiations will be lengthy and fraught.

  • SierraCol debuts in LatAm HY

    SierraCol debuts in LatAm HY

    SierraCol Energy, the Carlyle Group-owned spin-off of Occidental Petroleum’s onshore operations in Colombia, sold its inaugural international bond issue on Monday to continue a surge in LatAm high yield issuance — though some bankers felt the underwhelming aftermarket performance of other recent borrowers affected the deal.

Latin America News Archive
LatAm Letter

 

Our coverage — led by our correspondent in Bogotá, Colombia, with support from the emerging markets desk in London — gives you the comprehensive story on how Latin America’s governments, banks and companies are financing themselves in bond markets.

GlobalCapital is the place to read LatAm deal analysis, market reaction, the drivers behind issuance trends, and about all the important goings-on in secondary markets and the increasingly busy world of debt restructuring.




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