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Uruguay did not pay much new issue premium, if any
A normalisation of Argentinian borrower access to markets has helped spur issuance
Issuance in euros by LatAm & Caribbean sovereigns is at record levels
The sovereign priced inside paper of similar maturity from Brazil and Colombia
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Just over a week after it reopened EM bond markets with a dollar deal, Mexico is turning to euros for a dual tranche new issue as part of a liability management exercise. -
The Dominican Republic raised $2.5bn across two tranches amid an improving tone in EM bond markets on Wednesday, providing an encouraging sign to the several Latin American credits expected to price before the week is over.
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Two of Latin America’s most established borrowers, the Colombian sovereign and Brazilian bank Itaú, returned to international bond markets on Tuesday. Though both issues were priced roughly as expected, bankers on and away from the trades said there were signs that Lat Am’s roaring start to 2021 was losing steam.
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Holders of bonds issued by Argentine state oil and gas company YPF are seeking to form a creditor committee to block a proposed distressed debt exchange that analysts say is unlikely to gain much traction with creditors.
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Mexican firm Nueva Elektra del Milenio sold $500m of seven-year senior secured bonds on Tuesday, benefiting from a structure that granted it an investment grade rating.
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The Association of Brazil’s Indigenous Peoples has written an open letter to BlackRock’s CEO Larry Fink, who is expected to publish his annual letter to stakeholders this week. Apib wants BlackRock to end what it calls its “complicity” in the destruction of the Amazon rainforest, and to consult indigenous people as it finalises its new policy on biodiversity and deforestation.
