LatAm Bonds

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.

Panama’s Global Bank has announced a tender offer for its structured covered bond.

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.

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.

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.

Three Mexican borrowers are meeting bond investors this week as Latin American issuers continue to look to take advantage of low rates.

Standard & Poor’s downgraded Barbados’s credit rating from B to B- on Friday, provoking an angry reaction from the leader of the opposition as the sovereign has crashed from investment-grade as recently as 2012 to the edge of full triple-C status.

Venezuelan state oil giant PDVSA is considering sweetening its exchange offer to bondholders in an effort to push out debt maturities, after last week’s debt swap proposal received little traction.

A green bond to be used to construct Mexico City’s new airport led the way for a storming day of issuance in Latin America on Thursday, leaving no doubt that EM debt markets are still hot.

Brazilian cement company Votorantim Cimentos (VotoCim) began meeting fixed income investors on Thursday ahead of a potential bond issue that will be used to buy back one or two existing euro-denominated notes.

The Republic of Argentina is set to continue its huge year of bond issuance with its first euro-denominated trade since its 2001 default. The announcement comes after the finance ministry said it would need to raise up to $15bn of international debt next year.

New funding possibilities in the Swiss franc bond market for lower rated issuers have been opened up by a ground-breaking Sfr300m issue for YPF, the Argentine state oil company, writes Silas Brown.