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Mexico paid a similar new issue premium for its $9bn deal last week
◆ What has driven this week's record issuance and what might threaten sentiment ◆ Why the Maduro affair is a wake-up call for the EU ◆ Resolving Venezuela's debtberg
New issue premiums were slim for the LatAm sovereign duo
It will take years and huge amounts of money to get Venezuela in a state to restructure its debt
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Brazilian airline Gol on Thursday sold the first public bond deal from a Latin American airline since the coronavirus pandemic began, increasing the size of a tap of its 8% 2026s as hopes grow that the vaccine rollout will accelerate in the region and enable the worst affected industries to recover. -
Chile raised $2bn in dollar markets on its fourth international bond market outing of the year on Tuesday, achieving slim new issue concessions even as volatility in domestic markets is leading the sovereign to lean more heavily on external funding sources.
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A committee of Belize’s largest bondholders said on Wednesday that there was a “lack of transparency” in the country’s debt restructuring proposal, claiming that Belize failed to address several creditor concerns during confidential negotiations. The committee said bondholders should not bear the costs if Belize decides to reject an IMF programme.
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AI Candelaria, the holding company through which private investors own a stake in Colombian oil pipeline Ocensa, is looking to issue senior secured bonds in the coming days as bankers say a sell-off in Colombian bonds remains relatively small despite major social unrest.
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Banco General’s additional tier one debut on Tuesday came with a slimmer spread to its senior curve than similar instruments from Latin American banks, said bankers, as the Panamanian lender printed $400m of perpetual non-call 10 subordinated notes.
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The Republic of Chile, until recently a rare issuer in international bond markets, sold its fourth cross-border bond of 2021 on Tuesday, becoming the fourth Latin America sovereign of the year to take advantage of a more liquid 20 year US Treasury to price a benchmark at that maturity.
