LatAm Bonds
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NN Investment Partners has added two new hires to its emerging market debt teams in New York and the Netherlands.
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Colombia’s dollar bonds slumped on Monday despite a rally in oil after the country shocked observers and pollsters by voting to reject a proposed peace accord between the government and Farc guerrillas. -
Mexican utility CFE and Panamanian Global Bank began meeting investors on Monday as the Lat Am new issue market extends an autumnal busy spell.
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There are signs of resistance from bondholders struggling to see the value in primary bond deals, but Latin America’s new issue market marched on this week with three corporates issuing on Thursday.
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Peru took advantages of renewed enthusiasm for its economy and highly favourable market conditions to sell PEN10.252bn ($3.02bn) of 12 year sol-denominated bonds as part of a liability management exercise on Wednesday and Thursday.
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Ecuador surprised some bond investors by doubling the size of its 2022s on Tuesday despite being unable to tighten pricing from initial price thoughts.
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Peru continued to chip away at its dollar debt on Wednesday with a nuevo sol-denominated 12 year bond, the new money component of which will be used to finance a cash tender for dollar bonds.
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Panama’s Global Bank has announced a tender offer for its structured covered bond.
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Bank of America Merrill Lynch has hired former Credit Suisse fixed income sales banker Jose Hernandez-Ortiz as senior vice-president on its EM Lat Am solutions desk, GlobalCapital understands.
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Ecuador tapped its September 2022s for a further $1bn on Tuesday but was unable to tighten pricing despite offering a new issue premium close to three digits.
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Turmoil in Turkish bond markets put a dampener on Monday’s open after Moody’s junked the sovereign's credit rating. But with activity in the Middle East and, after a two year absence, Nigeria, the stage is set for a busy few weeks in EM.
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Three Mexican borrowers are meeting bond investors this week as Latin American issuers continue to look to take advantage of low rates.
