LatAm Bonds

As two financial market favourites made important strides in Mexican public life this week, bond investors in Europe gave an extraordinary welcome to high yield cement company Cemex on Tuesday.

The day after the president named him as Mexico’s new central bank chief, Alejandro Díaz de León tells GlobalCapital about the inflation challenge, and adds that the world’s central bankers should be keeping a close eye on the “atypical” business cycle in advanced economies.

The day the president named him as Mexico’s new central bank chief, Alejandro Díaz de León tells GlobalCapital about the inflation challenge, and adds that the world’s central bankers should be keeping a close eye on the “atypical” business cycle in advanced economies.

Corporacion Andina de Fomento tapped its September 2027 Kangaroo line on Tuesday, the first increase since it opened the line in March.

Mexican cement group Cemex made a spectacular return to European bond markets on Tuesday, increasing the size of a seven year non-call three deal that bankers saw as coming inside fair value.

Brazilian low cost airline Gol will look to raise between $350m and $550m of new seven year notes as part of a liability management exercise, less than 18 months after a distressed debt exchange.

Colombia’s finance ministry has turned to a former employee to run the public credit office after the previous chief funding official resigned last week.

Property developer Country Garden, which holds the record for selling the Panda market’s largest bond, has obtained approval for a Rmb9.5bn ($1.44bn) issuance programme, the company said in a filing on Hong Kong Stock Exchange on Thursday.

A Brazilian high yield duo is set to test the Lat Am bond market’s appetite for risk next week as they plot two of the racier deals to emerge from the region this year.

As much as Latin American bond markets have enjoyed a record year, trades of $300m or under that are not eligible for indices have largely struggled.

Brazilian engineering group Andrade Gutierrez has begun to reduce a looming bond maturity, which is concerning rating agencies, with a tender offer to be funded by cash.

Minas Gerais state power utility Cemig announced its second roadshow of the year the day after signing a R$4bn ($1.23bn) bank loan as it looks to improve its liquidity position via a renewed attempt to sell international bonds.