LatAm Bonds

Central American development bank Cabei is looking to add at least A$25m to its existing Australian dollar bonds due 2026, and may consider a new five year this week.

Mexico’s state owned oil company Pemex has turned to the euro bond market just two months after becoming the first Latin American borrower to sell a bond at all after the election of Donald Trump as US President.

The government of Belize has again extended the deadline for a consent solicitation aimed at easing its debt payment burden, but is yet to improve its offer to bondholders.

S&P’s upgrade of Brazilian oil giant Petrobras could attract more investors into the company’s curve, according to Lat Am market participants.

Brazilian oil giant Petrobras has wrapped up a tender offer that ended up far larger than planned, after bondholders owning $5.57bn of paper agreed to sell their notes.

Privately held power generation company Stoneway Capital Corporation, which includes Siemens among its partners, sold $500m of 10 year bonds at a yield of 10% on Friday.

Bad weather in New York left trading volumes in Latin American bond markets low on Thursday, and Lat Am primary may also now find activity cooling despite a seemingly relentless wave of Argentine borrowers looking to tap the market.

Argentina’s largest province, Buenos Aires (PBA), saw its bonds trade up the day after it raised $1.5bn of five and 10 year bonds.

Lat Am bond bankers said that Brazilian mining giant Vale had found the perfect window to tap its dollar bonds due 2026 on Monday — some four months after it had mandated banks for the trade.

Peruvian mortgage lender Fondo Mivivienda sold Nuevo sol-denominated bonds to international investors on Tuesday in a rare local currency trade from Latin America, as the issuer looks to turn much of its debt to soles in the future.

Argentina’s largest province, Buenos Aires (PBA), raised $1.5bn of five and 10 year bonds on Wednesday as investors showered love to the tune of $4.3bn upon the 120bp pick-up to the sovereign it paid.

Emerging market bankers are busy on the road as mandates start to ramp up but this week all eyes will be on Nigeria, which wraps up investor meetings on Wednesday.