LatAm Bonds

Capex SA, the Argentine electricity company, is planning a $300m bond sale with S&P promising an upgrade should the borrower successfully be able refinance its forthcoming maturities.

Latin American renewable energy company Orazul Energía is looking to raise up to $550m of funding for its Peruvian operations in what would be its first international bond sale.

Central America’s largest electricity distribution company could make its debut in international bond markets next week after mandating three banks to arrange an investor roadshow.

Argentine province Neuquén began meeting fixed income investors on Monday as it looks to issue a second international bond in two years.

A glimpse of the future has arrived with the publication of a report modelling the credit risk banks face from drought. The effect on loan portfolios could be severe — and the research illustrates the new kinds of risk management banks will have to do as the world’s climate becomes more volatile.

No Latin American borrowers tapped international bond markets this week as most of the region takes an extended break for Easter, but Argentina is once again providing most of the excitement.

Bond investors were sanguine on Central American sovereign El Salvador’s international bonds even as they took a battering in secondary markets this week in the wake of a default on domestic debt.

Pampa Energía, the fast growing Argentine energy company, is looking to sell $500m of convertible bonds in an extremely rare structure for a Latin American issuer.

Less than a month after it removed the negative outlook on Brazil’s Ba2 rating, Moody’s has edged state-owned oil giant Petrobras closer to the double-B territory it occupies with other rating agencies.

After a glut of provincial supply, investors were treated to a debut Argentine corporate this week, as three other Latin American corporates brought deals.

Latam Airlines emerged with pricing for a new seven non-call four year senior unsecured dollar bond on Wednesday at the end of a four day roadshow.

Argentinian supply resumed on Wednesday as Tarjeta Naranja and Province of Tierra del Fuego both kicked off pricing on new dollar deals.