Itau BBA

Bond bankers said that Brazilian agribusiness company André Maggi (Amaggi) was the ideal credit for the market’s current tastes as the borrower notched a hefty oversubscription and tightening for a debut sustainability bond on Thursday. A tier two deal from Brazilian lender Banrisul confirmed that high yield appetite in Lat Am remained robust.

Peru grabbed the bond market’s attention on Monday with a $4bn triple-tranche issue including a 100 year bond despite the country being on its third president this month. But the country’s public treasury director said it was the all-in yield, not the desire to make headlines, that drove Peru to become the fourth Latin American borrower ever to sell a century bond.

Brazilian bank Itaú has hired from the Latin American debt capital markets team of a rival bank to replace its outgoing debt syndicate head.

Brazilian conglomerate Cosan returned to bond markets on Wednesday with a $750m 10 year non-call five year trade that bankers on the deal said landed close to fair value.

State-owned Argentine oil and gas company YPF became the first borrower from the country to tap international bond markets in 14 months on Monday. Yet despite a healthy reception from investors, bankers do not expect copycat trades from other Argentine issuers.

Chile raised around $1.5bn-equivalent of new peso debt on Wednesday in its fourth Euroclearable local currency deal.

Latin American bond bankers believe primary market activity will pick up next week after a volatile week led some banks to postpone previously scheduled mandate announcements.

Latin America’s best rated sovereign, Chile, will begin investor meetings on Thursday as it plots its third Euroclearable local currency deal.

Klabin, the Brazilian pulp and paper company, returned to bond markets on Wednesday, taking advantage of a flattening yield curve to issue its first long bond, despite a bad day for Brazilian assets.

Brazil’s largest private sector bank jumped on strong momentum for Brazilian credits to sell $1.25bn of Basel III-compliant additional tier one bonds on Tuesday.

Brazil’s largest private sector bank Itaú is set to price its first Basel III-compliant hybrid perpetual note on Tuesday after setting initial price thoughts that bankers away from the deal described as “promising” for the borrower.

A glimpse of the future has arrived with the publication of a report modelling the credit risk banks face from drought. The effect on loan portfolios could be severe — and the research illustrates the new kinds of risk management banks will have to do as the world’s climate becomes more volatile.

Lat Am new issue activity could hardly have had a better start to September as Minerva Foods raised $1bn of 10 year bonds at a flat to negative new issue concession. Strong flows into EM funds are creating conditions that are hugely attractive for borrowers.

Brazilian firm Banco Itaú’s head of Latin American debt capital markets has left the bank, according to two sources.

Man GLG has hired five senior investment professionals from Barclays, HSBC, American Century Investments Banco Itaú BBA. The appointments complete Man GLG's recently established emerging markets debt team.

Brazilian industrial conglomerate Cosan followed the strategy of its compatriot Petrobras on Monday, tapping recently issued bonds after a strong response to a tender offer.

Latin American borrowers rushed to new issue markets en masse on Wednesday to confirm the thesis that Brexit would have little or no effect on the region, with four issuers pricing bonds and several more likely to do so imminently.

Argentina’s confectionary maker Arcor is tomorrow meeting investors in the US and London to market a $300m offering, the only active high yield deal that European investors can consider in the week after the UK's Brexit vote.

Argentine confectionary group Arcor is looking to buy back all its existing dollar bonds ahead of a return to international capital markets scheduled for shortly after the Brexit referendum.

Argentine confectionary group Arcor, the best rated issuer in Argentina, is likely to announce a bond imminently, after it mandated a trio of banks to run a benchmark dollar issue.

More than three quarters of Brazilian industrial conglomerate Cosan’s bondholders agreed to sell their bonds in the early bird phase of a tender offer.

Industrial conglomerate Cosan will be hoping market conditions do not turn against it for a third time after it launched a tender offer and announced investor meetings ahead of a possible new bond.

Argentine cable company Cablevision will begin meeting investors on Thursday ahead of a planned $500m bond issue.

Banco Hipotecario is set to demonstrate the immediate benefits that Argentina’s corporates could receive from the sovereign’s return to bond markets when it taps its 2020s on Tuesday.