LatAm Bonds

Landlocked South American sovereign Paraguay is likely to return to international bond markets early this month after nominating Bank of America Merrill Lynch and Citi to run its next debt sale.

Mexican cement company Cemex said on Tuesday that it would buy back $475m of existing dollar bonds after receiving a strong response to its proposed tender offer.

Economists at the Institute of International Finance (IIF) said on Monday that they believed Venezuela was “rapidly approaching breaking point”, despite movements in the short end of the country’s curve suggesting investors are less pessimistic.

Argentina’s third largest private sector lender Banco Macro is considering selling up to $300m of New York law peso-linked notes, following in the steps of fellow banks Supervielle and Hipotecario.

The government of Belize has extended the deadline for a consent solicitation designed to ease its debt burden for the fourth time, but has again failed to offer bondholders a better deal.

The province of Córdoba sold a five times oversubscribed 7.5 year bond on Wednesday to suggest that plenty of appetite for Argentine paper remained — even if it is growing ever more picky about credit quality.

A healthy pick-up to Central American peers, and investor optimism that political bickering would not put the country at risk of default, allowed El Salvador to raise $601m of vital 12 year funding on Tuesday, despite the sovereign rapidly nearing triple-C status.

Inversiones Atlántida, the Honduran financial holding company, could look to issue a debut international bond in March after postponing plans in November when Donald Trump’s election as US president shook markets.

Central American sovereign Belize failed to make a $13m coupon payment on its 2038 bonds this week, after saying it hoped to persuade bondholders to agree to a consent solicitation that would provide significant debt relief.

Inversiones Atlántida, the Honduran financial holding company, could look to issue a debut international bond in March after postponing plans in November when Donald Trump’s election as US president shook markets.

Central Argentine province Córdoba sold $510m of 7.5 year bonds on Wednesday, using proceeds to refinance existing bonds and significantly lower its funding costs.

Central American sovereign Belize said on Monday that it had “deferred” payment of a $13m coupon payment due on its 2038 bonds on February 20 as it seeks to persuade bondholders to participate in a debt restructuring.