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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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A group of Suriname’s bondholders said they plan to support the government’s bid for a temporary debt standstill after the sovereign amended a consent solicitation to incorporate some of their requests.
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Paraguay’s largest commercial lender, Banco Continental, hopes its planned issuance of sustainability bonds will be an example for other issuers to follow, stating in its sustainability bond framework that its commitment to sustainable development is “inherently linked” to Paraguay’s historical dependence on the agriculture and livestock sectors.
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Having entered default on Thursday, November 26 as the 30-day grace period on a missed coupon payment expired, Suriname has improved the terms on a consent solicitation that — if accepted by at least three quarters of bondholders — would allow it to escape the default and buy time for a more comprehensive debt restructuring.
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The coronavirus pandemic means many parts of the US are experiencing an unusual festive period. But emerging markets sovereigns broke another Thanksgiving tradition by flooding primary bond markets with new deals on what is usually a quiet week for new issues — even as levels of stress are rising sharply at the riskier end of the asset class. Oliver West and Mariam Meskin report.
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The Province of Neuquén has become the fourth Argentine regional or local government to wrap up a debt restructuring this year. But with most provincial issuers struggling to reach agreements with creditors, several provinces’ bondholders have joined forces to bolster their negotiating position. This may help bondholders force the provinces to offer deals that are better than those the national government wants both sides to make.
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Guatemala has settled a long-running legal dispute with Florida-based Teco Energy, allowing it to pay bondholders and avoid defaulting on an international bond.