LatAm Bonds
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Government-owned development bank Nacional Financiera (Nafin) is plotting what would be the first ever green bond from Mexico and — unlike the previous two such bonds from LatAm — will be ringfencing the proceeds.
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Uruguay sent a sign that broad volatility in emerging markets would not put Latin American sovereigns off the new issue market with a $1.7bn amortising 12 year deal that it will use to buy back old bonds.
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Peru looked set to test the euro market for the first time in more than a decade after announcing plans for an extensive European roadshow.
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Peru will meet investors in Europe next week ahead of a potential return to the euro bond market for the first time in more than a decade.
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Mexican retail chain Soriana is meeting investors ahead of a potential bumper peso deal as deal pipelines fill up in Latin America’s stronger economies.
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Bankers covering Latin America are optimistic about the prospects for primary supply from the region this week, with Mexican names the top picks to test the market.
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Fitch has downgraded a series of project bonds issued by Odebrecht’s oil and gas subsidiary for the fifth time this year following the early termination of an oil rig contract by Petrobras.
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HSBC has hired Elena Garcia-Hernandez, who moved to Banca Itau from JP Morgan less than a year ago, for its London syndicate desk. The bank has also reshuffled global syndicate, moving two bankers to Hong Kong. -
Uruguay finance minister, Danilo Astori has told GlobalCapital that the country will mandate banks for a global bond in the coming days, with at least three Latin American governments preparing to raise international debt before the year is out.
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Mauricio Cárdenas, the Colombian finance minister, has told GlobalCapital’s sister paper Emerging Markets that the sovereign is discussing the issuance of a euro-denominated bond as it looks to complete its 2016 financing needs as early as possible.
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Banco ABC Brasil this week became the fourth Brazilian lender and the sixth issuer from the country in a month to launch a tender offer for existing debt as low dollar prices make bond buybacks attractive.
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Mexican green financing may get a lift on two fronts as the country moves towards its target of having 35% of its energy come from renewable sources by 2024.
