LatAm Bonds
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There has been no relief rally in Colombian bonds after right winger Iván Duque eased to victory in Sunday’s presidential elections, as tricky boarder conditions outweigh the positives for the South American country. -
Brazilian mining giant Vale has launched its third tender offer of the year, this time targeting the longer part of its dollar curve.
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The North American Development Bank (NADB) will hold meetings in Geneva and Zurich to discuss a debut Swiss franc green bond, as the possibilities for arbitrage grows for international SSAs.
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Despite receiving one of the largest IMF bail-out packages in history, Lat Am bankers are sanguine on the outlook for Argentine DCM activity this year. They say this is as much to do with the broader weakness in emerging markets as it is to do with Argentina’s economic recovery.
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The North American Development Bank (NADB) will hold meetings in Geneva and Zurich to discuss a debut Swiss franc green bond.
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Officials from Ecuador met investors in New York this week and while the programme was billed as a non-deal related investor update, analysts say that a deal is expected later this year.
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One of HSBC’s co-heads of Latin American DCM has left for Scotiabank.
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Market analysts said that Argentina’s $50bn IMF programme — which one strategist thought to be the largest ever provided by the fund — had surpassed all expectations, with bonds rallying lightly last Friday.
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Caribbean island nation Barbados took bond markets by surprise last Friday by announcing a restructuring of all external debt, abruptly ending the hope that the new government — and its openness to the IMF — had brought to bondholders.
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Investors owning $12.836bn-equivalent of Petrobras dollar and euro bonds offered to sell their notes in a tender offer before Tuesday's early bird deadline — more than three times the $4bn limit that the Brazilian oil company had set for the buy-back.
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Chilean electricity company Enel Chile pounced on improving market conditions to raise $1bn of 10 year bonds on Thursday, after attracting the largest order book for a Lat Am dollar deal in several months.
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South American development bank CAF took the unusual step of issuing in euros just four months since its last outing in the currency, after eying an opportunity in a favourable basis swap.
