LatAm Bonds

Standard & Poor’s has removed the immediate threat of a sovereign downgrade for Brazil after saying that the political landscape is “somewhat more settled” than it was in May, but markets hardly reacted.

Standard & Poor’s has removed the immediate threat of a sovereign downgrade for Brazil after saying that the political landscape is “somewhat more settled” than it was in May.

Emerging markets specialist investment manager Gramercy's head of sovereign research left the firm earlier this month, GlobalCapital understands.

Flows into emerging market bond funds remain strong, and with a heavy pipeline building for September, investors will have plenty of opportunities to put their money to work. But with no new issues this week, investors were combing through Q2 results looking for opportunities to switch up portfolios.

Jamaica found plenty of demand for its annual bond issue on Tuesday, notching new issue concessions more usually achieved by higher rated credits.

Argentine credits tightened throughout the start of the week as bond markets basked in better than expected results for the ruling party at Sunday’s primary elections.

Jamaica has announced initial price thoughts on taps of its existing 6.75% 2028s and 7.875% 2045s as it looks to raise new cash to buy back existing bonds.

Peruvian power generator Cerro del Aguila attracted more than $3bn of orders for its inaugural Eurobond on Wednesday.

Jamaica could return to the dollar market as early as next week following the launch of a cash tender offer for four of the borrower’s outstanding bonds.

Peruvian power generator Cerro del Aguila attracted more than $3bn of orders for its inaugural Eurobond on Wednesday.

Investor interest in the second leg of Chilean copper miner Codelco’s tender offer has been strong, with almost $1bn of bonds tendered by the early bird deadline.

Argentine company MSU Energy is considering approaching international bond markets for the first time, credit analysts in Buenos Aires say.