.png){kind=logo}
GC Asia
-
Stars align for negative NIPs in EM despite fundamental worries
Emerging market bond demand appeared near boiling point this week as a slew of borrowers priced new debt through their curves and even high yielding credits were able to stretch to longer maturities. While market participants acknowledged it surely cannot get any better than this and that conditions show little connection to economic reality, they are struggling to see what could sour sentiment in the near term. Mariam Meskin and Oliver West report.
17 Sep 2020 -
Arg corporates face new hurdles as central bank limits dollar access
Argentina’s recently restructured international bond curve looks further than ever from the 10% yield target that the finance minister had set. New currency controls aimed at halting the decline in international reserves have had a catastrophic impact on both corporate and sovereign bond markets, and are likely to spell major trouble in the long term, analysts say.
17 Sep 2020 -
Bancomer patience pays off with record coupon
BBVA’s Mexican subsidiary made an opportunistic return to the international markets on Tuesday, raising dollar funding at a record low cost ahead of a bond maturing next March.
17 Sep 2020 -
Currency measures send Argentine corporates tumbling
Argentine corporate bonds sold off sharply on Wednesday after the central bank sought to dictate how the issuers could refinance their dollar debt as part of an escalation of currency controls.
17 Sep 2020 -
BRF finds appetite down the curve in ravenous Lat Am
Brazilian foods company BRF fetched a 10 times oversubscribed order book on its way to a 30-year benchmark on Wednesday as appetite for Latin American risk remains irrepressible.
17 Sep 2020 -
CAF ups dollar benchmark to $750m
Latin American development bank Corporación Andina de Fomento (CAF) will continue to monitor its members’ needs before determining how much funding it has left to raise in 2020, but has covered the majority of its financing needs after increasing the size of a dollar benchmark, priced on Wednesday.
16 Sep 2020 -
Bancomer notches lowest coupon from Lat Am bank
BBVA’s Mexican subsidiary, Bancomer, on Tuesday provided one of the clearest examples yet of the attractiveness of international bond markets for Latin American borrowers as it notched the lowest ever coupon on a dollar deal from a bank from the region.
16 Sep 2020 -
Brazilian debutant to join Lat Am ESG deal rush
South America’s largest corn-based ethanol producer, FS Agrisolutions Indústria de Biocombustíveis (FS), will look to become the latest Latin American borrower to sell a sustainability-themed bond as it proposes a green format for its international market debut.
15 Sep 2020 -
Cemex cements popularity with tight 10 year
Mexican cement producer Cemex sold its second dollar bond in three months on Monday, fetching lower pricing at a longer maturity than on its June outing as observers saw a slim new issue concession amid what one analyst called recent “insatiable” demand for the credit.
15 Sep 2020 -
Mexico promises 'sustainable curve' as long-awaited SDG debut offers no concession
Seven months after it visited European investors to market the idea, Mexico sold the first sovereign bond explicitly aligned to the United Nations’ Sustainable Development Goals (SDG) on Monday, saying it was the first step on the way to building an external yield curve of sustainable bonds.
15 Sep 2020
