LatAm Bonds

Engineering and construction company Andrade Gutierrez Engenharia, one of the largest contractors in Latin America, failed to repay a senior unsecured bond that matured on April 30.

Chilean state-owned copper mining company Codelco raised $600m of 30 year money in Taiwan on Monday in the first Formosa trade from a Chilean corporate.

Petróleos Mexicanos (Pemex) sold 5.5 year Swiss franc bonds on Thursday, its first issue in the market for two years. With international supply falling in the last few years, Swiss investors leapt at the opportunity to buy investment grade Latin American credit.

Brazilian oil and gas producer Petrobras will continue to tidy up its debt profile with the buy-back of two bonds due in 2020, it said on Wednesday.

Engineering and construction company Andrade Gutierrez Engenharia, one of the largest contractors in Latin America, failed to repay a senior unsecured bond that matured on April 30.

Camposol has launched a tender offer for its 10.5% 2021s for the second time this year, as the Peruvian agricultural company looks to revive a new bond sale.

Chilean state-owned copper mining company Codelco raised $600m of 30 year money in Taiwan on Monday in the first Formosa trade from a Chilean corporate.

The largest telecommunications company in Argentina has become the latest issuer from the country to look to international bond markets, even as traders and investors fret over a swift slump in the peso.

The Central American Bank of Economic Integration (Cabei) was back in Taiwan’s Formosa market on Friday with a renminbi-denominated bond, more than 18 months since its last renminbi-denominated issuance.

Mexican IT infrastructure provider Kio Networks was unable to budge pricing on its second ever international bond on Thursday, but market participants following the deal said the company should be happy with the result amid tough market conditions.

Petroquímica Comodoro Rivadavia (PCR), the Argentine energy company, began investor meetings on April 25 ahead of a planned debut international bond sale, with compatriot and peer company Capex expected to provide the closest comparison.

Peruvian drugstore operator InRetail Pharma and Brazilian electricity company Light both sold new deals tighter than where some investors would have liked on Wednesday to show that issuers had at least some pricing power.