LatAm Bonds
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Argentine real estate company IRSA will buy back nearly $213.5bn of dollar denominated bonds after wrapping up a tender offer that will be financed by its recent bond deal.
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Brazilian meatpacker Marfrig used cash to buy back $72m of senior notes from October 9 last year to February 18 this year, focussing on its lowest coupon, lowest dollar price bond, the company revealed on Monday. -
With its bond spreads hovering near all-time wides versus its sovereign, Mexico oil giant Pemex was hit by a two notch downgrade from Moody’s on Friday after the rating agency also placed the country’s credit rating on negative outlook.
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An increasing number of high yield names are appearing in the Lat Am pipeline as the region’s bond markets continue to enjoy stability.
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Latin American development bank Corporación Andina de Fomento (CAF) is planning to issue its first green bond, according to the lender’s funding head.
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Three large Brazilian real denominated MTNs issued by Export-Import Bank of Korea (KEXIM) indicate that Brazilian investors are making a tax play, according to bankers.
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A boost in deal activity in March has brought Latin American year-to-date new issuance volumes back to parity with 2015 as the end of the first quarter draws near, according to Dealogic.
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Brazilian pulp producer Eldorado Brasil Celulose is plotting a potential debut cross-border bond that investors believe could receive a decent reception — if the company waits long enough to issue.
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Brazilian low-cost airline Gol Linhas Aéreas Inteligentes said on Monday it had hired PJT Partners to advise it on its capital structure and liquidity, immediately provoking words of warning from Standard & Poor’s.
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The Republic of Paraguay was the only Latin American borrower to sell bonds in a short Easter week for much of the region, as conditions continue to improve for new issues.
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A continued rally in Brazilian bonds is giving DCM bankers in São Paulo some hope that issuance from the country may be on its way — although it will not be a flurry and volatility looks set to remain high for some time.
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Latin America development bank Corporación Andina de Fomento (CAF) this week returned to the Australian dollar market with a dual tranche bond, its first outing in the format since August 2015.
