LatAm Bonds
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The Republic of Peru took advantage of a deserted primary bond market in Latin America to issue its first new dollar benchmark since 2010 on Tuesday. -
Project bond supply could be on the way from Colombia after Goldman Sachs committed to provide $1.2bn in the first leg of financing for the country’s $25bn so-called 4G infrastructure programme.
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Brazilian refractories and minerals producer Magnesita Refratarios will buy back over three quarters of its outstanding bonds after a tender expired at the end of last week.
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Whether prices in Brazilian bonds really have found a floor or not, several bond investors say they are now finding value in the country’s debt markets after a sustained sell-off was halted by a better-than-expected downgrade from Moody’s this week.
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Holiday season is well and truly here in the LatAm bond market with origination and syndicate bankers claiming there is little to be done by way of new issues until September.
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Latin American supranational Corporación Andina de Fomento (CAF) priced a Sfr200m ($203m) eight year bond on Tuesday with its lowest coupon on an international bond deal.
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Standard & Poor’s cut Ecuador’s credit rating by one notch to B on Wednesday less than a year after it had upgraded the sovereign to B+.
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For the second time in two weeks a negative rating action on the Brazilian sovereign triggered a positive reaction in the country’s securities after Moody’s downgrade the country from Baa2 to Baa3.
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Latin American supranational Corporación Andina de Fomento (CAF) priced a Sfr200m ($203m) eight year bond on Monday with its lowest coupon ever on an international bond deal.
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The result of October’s presidential elections in Argentina, which bond investors believe will lead to a return to capital markets for the sovereign, remain wide open after Sunday’s primary elections, said economists and analysts.
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Colombian state oil company Ecopetrol has hired María Fernanda Suárez Londoño, a former head of the country’s public credit unit, as corporate vice-president of finance and strategy.
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Brazil’s rapidly falling currency may be a symptom of ever increasing economic pain in Latin America’s largest economy, but it is lending a helping hand to the country’s exporters — in particular food company BR Foods (BRF).
