LatAm Bonds
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Mexican payroll lender Crédito Real brought Latin American high yield corporate issuance back to the European bond markets for the first time in five years last week, in a deal that fed euro buyers’ hunger for new names. -
Lat Am syndicate bankers were in bullish mood after Brazilian petrochemicals company Unigel clinched a seven year bond to complete a diverse few days of issuance from the region.
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Interbank showed off the prowess of Peruvian issuers in international bond markets on Thursday as it topped up a dollar deal from the previous day with a nuevo sol tranche.
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Ecuador sold $2bn of bonds on Tuesday in a surprisingly timed deal that triggered a sell-off in its existing bonds as analysts said the deal suggested the country’s fiscal adjustment was slower than expected.
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Uruguay made the most of the low rate environment on Thursday to tap two bonds for a total of $1.055bn. It was part of a liability management exercise that the finance ministry said produced a nominal financial benefit of $87m.
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UniCredit forms sustainability team — UBS looks to raise game in green with SEB hire — SG reshuffles Paris ECM line-up
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Stifel Nicolaus & Co, the brokerage and investment banking firm, has hired a head of emerging markets sovereign research from Oppenheimer & Co, GlobalCapital understands.
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Peruvian lender Interbank issued $400m of bonds to buy back existing debt on Wednesday, and may also price global local currency notes.
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Uruguay added $750m to bonds maturing in 2055 on Tuesday and looks set to increase its 2031s on Wednesday as part of a liability management exercise.
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An unexpected bond issue from Ecuador sent its bond prices tumbling on Tuesday as some analysts saw the deal as a sign that the country was not delivering on its fiscal promises.
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Corporación Nacional del Cobre de Chile (Codelco), the world’s largest copper producer, extended the run of well received long dated bonds from Latin American issuers as it notched $2bn of new funding in a dual tranche offering.
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Brazilian food producer BRF will look to buy back more old bonds than initially intended after selling a larger than expected long 10 year note last week.
