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The outcome from a fiscal policy perspective is 'binary', said an emerging markets debt investor
One Brazilian company printed in a tricky period for the country's corporate borrowers
Rede D'Or rode over investor concerns about the health of Brazilian corporates, while Edenor landed its first benchmark bond
Books for the jumbo €5bn deal were more than three times subscribed
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Bondholders of Mexican payroll lender AlphaCredit are facing very low recoveries, say credit analysts, after the company failed to pay a $15m coupon payment due on June 19 on its senior secured 2022s. -
Mexican car parts maker Nemak is looking to become the latest Latin American company to issue a sustainability-linked bond, having begun investor meetings on Monday. Like other LatAm SLB issuers from the sector, Nemak is including a coupon step-up linked to Scope 1 and 2 greenhouse gas emissions — though the company has a separate target to reduce its far more significant Scope 3 emissions.
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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.
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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.
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Brazilian food company BRF said on Wednesday that it is giving bondholders more time to participate in a tender offer for a portion of its global bonds maturing in 2030.
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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.
