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GC Asia
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Femsa latest LatAm issuer to pour into SLB market
The Mexican conglomerate Fomento Económico Mexicano (Femsa) was in the market for sustainability-linked bond in euros on Thursday, marking the latest in a string of innovative trades from the Latin America.
11.00 AM -
Alpha bonds take beating as restated numbers show major write-down
Bonds issued by Mexican payroll lender AlphaCredit lost around half their value on Wednesday after the company revealed a correction in its accounting of derivatives positions would lead to an impairment charge of Ps4.1bn ($206m). Investors and analysts said this would take the non-bank lender’s equity into negative territory, suggesting default was a growing inevitability.
07.00 AM -
GeoPark taps inside secondaries to fund oversubscribed tender
Latin American oil and gas company GeoPark priced a reopening of its 2027 bonds with a negative new issue concession on Tuesday, taking advantage of strong demand from holders of its old notes to raise $150m.
21 Apr 2021 -
Colombia turns to bonds amid tax reform effort with IG status on the line
As Colombia’s government gears up for a political battle to push through a tax reform that may save its investment grade status, the sovereign’s head of public credit told GlobalCapital that the market reception to a dual tranche bond issue on Monday represented a vote of confidence from international investors.
20 Apr 2021 -
Colombian toll road preps social peso linker with DFC guarantee
Puerta de Hierro, a toll road project in Colombia’s Caribbean region, will begin investor calls on Monday as it looks to sell an inflation-linked Colombian peso-denominated social bond that has a double-A credit rating thanks to a guarantee from the US International Development Finance Corporation (DFC).
18 Apr 2021 -
Argentine energy company lines up bond return
Oil and gas producer Pan American Energy is looking to become the first Argentine company to issue international bonds this year, though it is the company’s operations in Bolivia and Mexico that may enable it to dodge the distress in its home country.
18 Apr 2021 -
Scotia hires for US syndicate
Scotiabank has hired a new head of syndication in New York, GlobalCapital understands.
16 Apr 2021 -
Davivienda, CMI land inside guidance as LatAm jumps on rates rally
Colombian lender Banco Davivienda and Central American renewable energy company CMI Energía both priced new issues inside the ranges indicated at guidance on Thursday, as Latin American bond markets took advantage of a strong bid for US Treasuries.
16 Apr 2021 -
Peru bondholders 'complacent' amid LatAm election super-cycle
Peruvian bonds barely moved this week after a shock in the first round of the country’s presidential elections on April 11, while Ecuador debt reacted spectacularly to a positive electoral surprise on the same day. Yet there are concerns about complacency towards risks in Peru, where a left-wing radical took most first-round votes, and Latin American bond buyers should brace for more volatility as the region faces an exceptionally busy election cycle.
15 Apr 2021 -
Eyes on IMF as Suriname clinches debt delay
More than 90% of Suriname’s bondholders this week participated in a consent solicitation that extends the sovereign’s debt standstill until the end of July. But the government has only until April 30 to sign a deal with the IMF, or the standstill will be cancelled.
15 Apr 2021
Latin America
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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