Honduras

Central American sovereign Honduras marked a new milestone for EM bond markets in the coronavirus era this week as it became the lowest-rated issuer from Latin America to issue during the crisis. Oliver West reports.

Central American sovereign Honduras found strong demand on its return to bond markets as investors and analysts said the issue ticked all the boxes for a yield-hungry investor base.

Honduras is planning to price a new 10-year bond on Wednesday after tightening guidance significantly as EM debt caught the US Federal Reserve-driven rally in fixed income markets.

Bond investors say that Honduras’s established relationship with the IMF should leave it in good stead as it looks to become the lowest rated borrower from Latin America to issue in the coronavirus era.

The Central American Bank for Economic Integration (Cabei) raised $530m-equivalent of debt in Taiwan and Switzerland this week to complete the bulk of its bond financing for the year, leaving the lender to focus on bilateral funding and further investor relations for the rest of the year.

Central American Bank of Economic Integration (Cabei) turned to the Taiwanese market on Wednesday, raising $375m just weeks after a $750m bond sale in the US.

The Central American Bank for Economic Integration (Cabei) is set to price a senior unsecured Formosa bond on Wednesday after tightening price discussions.

Corporación Andina de Fomento (CAF), the South American development bank, could follow fellow Lat Am multilateral Cabei into bond markets after mandating for an SEC-registered US dollar deal.

Central American development bank Cabei announced its return to US bond markets in the midst of the Covid-19 crisis with its largest ever bond deal, as a strong bid from Asian buyers helped the lender to raise $750m inside regional comps.

Central American development bank Cabei is set to price its first 144A bond in nearly eight years on Wednesday after setting initial price thoughts.

Central American development bank Cabei will hold investor calls this week as it prepares to bring its first 144A bond in nearly eight years.

The Central American Bank for Economic Integration (Cabei) completed a capitalisation on Monday, increasing its authorised capital from $5bn to $7bn.