LatAm Bonds

Fast growing Argentine energy company Pampa Energía will begin investor meetings on Tuesday as it plans a much anticipated debut bond sale to refinance loans used to purchase Petrobras’ Argentine operations last year.

Dominican airport operator Aerodom’s move to use most of the proceeds from its upcoming debt issue to buy back existing bonds is credit positive, according to Standard & Poor’s.

Six Latin American issuers announced plans to meet investors within two days this week as bankers said that there was no time like the present for the region’s borrowers to carry out funding plans.

Venezuela’s surprise issuance of $5bn of 20 year bonds in a private placement sold this week to state-owned Banco de Venezuela had no obvious explanation, said bond market participants.

Pulp and paper producer Fibria Celulose is looking to become the second Brazilian company in the sector to issue green bonds after mandating five banks to manage an investor roadshow.

Power generation company Genneia looks set to become the first Argentine company to debut in bond markets this year as DCM bankers predict a slew of new corporate issuers from the country in 2017.

Brazilian corporates Fibria Celulose and Raizen are looking to sell dollar bonds this month as bankers say issuances volumes from Latin America’s largest economy will continue to recover in 2017.

Central American sovereign Honduras will begin meeting fixed income investors on Friday ahead a potential 10 year dollar bond.

Cash strapped Venezuela has issued $5bn of 20 year bonds in a private placement sold to state-owned Banco de Venezuela and the central bank.

Argentina’s resurgence in international bond markets helped JP Morgan end 2016 as the top firm in primary in Latin America bond markets, up from sixth place in 2015, according to Dealogic.

Brazilian steel company Usiminas has given its dollar bondholders until January 12 to approve its restructuring of domestic debt, the second time it has pushed out the deadline.

Donald Trump’s election as US president has shaken up expectations for this year. But although Latin American borrowers are getting used to higher funding costs, 2017 could be a year of steady progression for the market, writes Olly West.