LatAm Bonds

Mexican state oil company Pemex will increase the size of its most recently issued bonds by more than initially planned after a debt exchange was comfortably oversubscribed.

Stephen Moss and Nuno Matos have been given new roles of responsibility for Europe at HSBC, ahead of expected restructuring of the group in that region, particularly in global banking and markets (GBM).

Chilean mobile phone operator WOM took advantage of a better tone in bond markets on Tuesday to add $60m to its 2024 notes, first sold in November.

The Province of Buenos Aires agreed to make an overdue bond payment on Tuesday afternoon to dodge default by just one day, as analysts said Argentina had to avoid creditor conflict to meet a tight deadline to restructure its sovereign debt.

Credivalores, a Colombian consumer and payroll lender, had to navigate a more cautious bond market on Monday to clinch a five year deal that landed exactly where fellow non-bank lender AlphaCredit had priced a trade last week.

A group of Province of Buenos Aires creditors immediately backed the issuer after it significantly sweetened the terms on offer to bondholders in an attempt to dodge a default that could be just two days away.

Mexico’s largest airline, Aeromexico, achieved significant price tightening on a five year issue as Lat Am bond buyers said the rare luxury of a 7% handle in primary had piqued their interest, despite acknowledging credit challenges.

The Province of Buenos Aires has given itself an extra working day to track down bondholders and persuade them to accept a delay in an amortisation payment as it seeks to avoid a hard default on its debt.

Latin American bond markets reached record levels of January issuance this week as primary activity ticked over despite the scare about the coronavirus, which the World Health Organisation declared a global emergency on Thursday.

The concessionaire on a 50km toll road in Kingston, Jamaica will begin meeting fixed income investors on Friday ahead of an international bond deal, as bankers say rarer issuers are likely to dominate supply for the foreseeable future.

Buenos Aires Province has offered more incentives to bondholders to encourage them to accept a three-month delay of a small debt payment. The move makes the Argentine sovereign’s aim to restructure all its external debt by March 31 as ambitious.

Mexican non-bank lender AlphaCredit became the latest company from Latin America to schedule fixed income investor meetings as bankers say smaller, high yield issuers are likely to dominate forthcoming supply.