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Issuer closes its first overseas trade since Moody's downgrade in May
Progress to bring down government deficit will be slow, warn economists
It will be better for all in the long run if Venezuela can prioritise domestic spending over debt repayments
◆ Venezuela embarks on historic debt restructuring ◆ Canada suggests covered bond boost ◆ European Secured Notes are here. Regulate them
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Panama came from nowhere to lead a slew of Latin American credits marching to raise bond funding on Thursday, but the weight of supply coupled with a tricky trading session meant that results were as up and down as the recent market conditions.
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Transportadora de Gas Internacional (TGI), the Colombian gas pipeline operator, ventured into bond markets six months after an initial roadshow on Wednesday with a new 10 year dollar bond.
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South American multilateral lender CAF (Corporación Andina del Fomento) opened its first new line in Australian dollars for over a year on Thursday with a new five year benchmark.
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Mexican state oil company Pemex returned to bond markets on Tuesday after weeks of speculation to find a wide open market and easily clinch a $2bn long 10 year broadly praised by bankers.
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Transportadora de Gas Internacional (TGI), the Colombian gas pipeline operator, gave hope to those Latin American DCM bankers with dormant bond mandates on Wednesday as it received a robust response for a new 10 year deal.
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Turkey made a successful return to international markets on Tuesday after six months away. The sovereign paid up for the privilege, but took an important step in returning financing conditions in the country to normal.