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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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  • The largest telecommunications company in Argentina has become the latest issuer from the country to look to international bond markets, even as traders and investors fret over a swift slump in the peso.
  • The Central American Bank of Economic Integration (Cabei) was back in Taiwan’s Formosa market on Friday with a renminbi-denominated bond, more than 18 months since its last renminbi-denominated issuance.
  • Mexican IT infrastructure provider Kio Networks was unable to budge pricing on its second ever international bond on Thursday, but market participants following the deal said the company should be happy with the result amid tough market conditions.
  • Petroquímica Comodoro Rivadavia (PCR), the Argentine energy company, began investor meetings on April 25 ahead of a planned debut international bond sale, with compatriot and peer company Capex expected to provide the closest comparison.
  • Peruvian drugstore operator InRetail Pharma and Brazilian electricity company Light both sold new deals tighter than where some investors would have liked on Wednesday to show that issuers had at least some pricing power.
  • Bond investors said Colombian financial holding company Gilex’s debut bond had been worth the wait as the owner of GNB Sudameris bank raised $300m on Wednesday and then saw the notes trade up on Thursday.