LatAm Bonds

Argentina returned to the Swiss market for the first time in nearly 20 years on Thursday to print a Sfr400m ($403m) three and a half year bond.

Landlocked South American sovereign Paraguay cemented its status as one of Latin America’s fastest improving economies with a tightly priced 10 year deal on Wednesday.

Mexican development bank Nacional Financiera (Nafin) has priced its first ever Japanese yen-denominated bond, according to bankers close to the deal.

Central American retail group Unicomer saw its newly issued seven year non call four bonds jump around three points in secondary markets on Tuesday as traders said retail and private bank investors sought to get their hands on the paper.

Mexican development bank Nacional Financiera (Nafin) will look to price its first ever Japanese yen deal this week.

Mexico’s followed its long awaited return to dollar bond markets with a solid performance in secondary markets on Friday as the sovereign wrapped up a liability management exercise.

South American sovereign Paraguay will meet bond investors on Monday and Tuesday ahead of a potential $500m international bond sale.

Mexico issued in dollars for the first time since the US presidential elections on Thursday. Bankers said the sovereign had been able to take advantage of an improvement in market sentiment based on hopes that US president Donald Trump’s policies towards the country might not be as harsh as feared.

Central American sovereign Belize said on Wednesday that it had received the necessary approval from bondholders to restructure dollar bonds that comprise nearly 40% of its total debt stock.

Expectations that a bond that already looked expensive will be become even more so helped Bolivia’s new 10 year trade well on the break after coming close to comps on Monday.

The Argentine province of Santa Fe offered an attractive pick-up to comparable credits, said bond market participants, after it priced its second ever international bond issue on Thursday.

Argentina is returning to the Swiss franc bond market after nearly 20 years, roadshowing a benchmark bond next week. Success or failure will indicate whether Swiss investors have forgiven Argentina for burning their fingers last time they met, writes Silas Brown.