LatAm Bonds

Argentina came a step closer to regaining capital markets access this week with the announcement of a first settlement with holders of its default debt. Analysts warned, however, that a rapid resolution to negotiations with the remaining holdouts is unlikely.

Two Latin American multilaterals this week defied investor jitters around looming US non-farm payroll numbers to tap the Swiss franc market.

A return of dollar issuance from Latin America edged closer on Thursday as details emerged of planned project bonds from Colombian toll road concessionaire Pacifico 3.

Progress has been made in negotiations between the Argentinian government and US holdout creditors, court-appointed mediator Daniel Pollack said late Wednesday.

Some medium term note investors believe the Mexican peso may now be undervalued, a pair of deals in the currency suggested this week.

Medium term note investors believe the Mexican peso may be undervalued, as they took punts with a series of deals in the currency.

Steelmaker Companhia Siderurgica Nacional (CSN) could be the next major Brazilian corporate to be forced into a debt restructuring, Fitch Ratings has warned.

Central American Bank for Economic Integration (Cabei) became the first non-European SSA to tap the Swiss market this year on Tuesday.

Argentina’s government reopened negotiations with holdout creditors on Monday after securing a $5bn loan from seven global banks last week.

Fitch upgraded Cobre del Mayo to CC on Monday following the successful completion of an exchange of the Mexican copper miner’s outstanding eurobonds.

South American sovereign Uruguay said on Friday that it intends to issue about $1.5bn in international bond markets in 2016 as part of its prefunding policy.

Latin American debt capital market bankers proclaimed that Pemex had “validated a new reality” for EM commodity credits in the bond markets after the Mexican state owned oil giant issued $5bn at new issue concessions so high that, until recently, they would have been unthinkable.