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GC Asia
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US judge denies holdouts restraining order on Ecuador restructuring
Ecuador will be able to proceed with a consent solicitation to restructure $17.4bn of bonds after a New York judge denied a motion from Contrarian Capital and GMO for a temporary restraining order (TRO) on the process.
31 Jul 2020 -
Peñoles mines for dual tranche dollar deal
Mexican miner Industrias Peñoles sold $600m of bonds on Thursday to keep Latin American primary markets ticking over as sell-side bankers expect only a trickle of deals from the region until September.
31 Jul 2020 -
Last-ditch bid to derail Ecuador restructuring finds limited sympathy
Ecuador on Thursday afternoon agreed to delay the deadline of its bond restructuring offering by one business day after two funds began legal actions against it. But a US court hearing on Thursday morning was not promising for the litigious investors, and markets believe there is still a high chance of the deal going through.
30 Jul 2020 -
Argentina’s PR offensive is just the start of political pressure on EM
In recent weeks, Argentina’s public relations agency has been cramming the inboxes of financial journalists as the government goes on the attack in an apparent attempt to guilt-trip dissenting creditors into accepting its restructuring offer.
30 Jul 2020 -
Banistmo poises for Panama recovery with second international bond
The chief financial officer of Panama’s second largest bank, Banistmo, told GlobalCapital that Wednesday’s bond issue was a sign of investor confidence not only in the issuer but in the prospects for the country, as economists say they expect it to be one of the outperformers in Latin America.
30 Jul 2020 -
Mexican miner mandates as bonds trade strongly
Industrias Peñoles, the world’s largest producer of refined silver, began investor calls on Wednesday ahead of a proposed $600m bond issue with the Mexican mining company largely unaffected by the impact coronavirus pandemic.
30 Jul 2020 -
CBC bottles tight tap after wrapping consent
The Central American Bottling Corporation (CBC), a major bottler and distributor for drinks giants PepsiCo and AmBev, raised $200m of funding in bond markets on Tuesday in an effort to refinance debt and support its cash balance.
29 Jul 2020 -
Banistmo ups bond size as bankers see value
Banistmo, Panama’s second largest lender tightened pricing sharply on a seven year bond on Tuesday as bankers said the market was still in excellent shape, though others thought the bank had been too conservative with its pricing strategy.
29 Jul 2020 -
Argentina bondholders can expect more political pressure
In recent weeks, Argentina’s PR agency has been cramming the inboxes of financial journalists as the government goes on the attack in an apparent attempt to guilt-trip dissenting creditors into accepting its restructuring offer.
28 Jul 2020 -
IADB to elect president in September but reschedules Colombia meet again
The Inter-American Development Bank (IADB) said on Monday that it would elect its next president virtually in September as it rescheduled its annual meetings for the second time.
28 Jul 2020
