LatAm Bonds

Aircraft manufacturer Embraer this week became the fifth Brazilian borrower to mandate banks for an international bond issue in the month since Petrobras filed its delayed audited financials, provoking a rally in the country’s credit markets.

Aircraft manufacturer Embraer has mandated Citi and Morgan Stanley to run fixed income investor meetings as Brazilian companies relish renewed appetite for the country since Petrobras filed its full year results in April.

Latin America’s largest airline group is planning to return to the bond markets for the second time this year looking to refinance debt issued by its Brazilian arm Tam while it was still an independent airline.

Mexican power company Comisión Federal de Electricidad (CFE) will begin meetings with bond investors on Wednesday as investors grow used to the organisation’s changing role.

Praise for Itaú’s blow-out three year senior deal proved to be well-placed as JBS USA made a triumphant return to bond markets five months after having to cancel a liability management exercise.

Brazilian food producer BR Foods (BRF) is planning what would be the second ever and largest green bond from Latin America and will meet investors in Europe next week.

Euro denominated bonds still provide an attractive diversification option for Latin American borrowers, said DCM bankers covering the region this week, even if conditions are softer than a few weeks ago and it is hard to beat dollar pricing.

Brazilian meatpacker JBS sold $900m of new 10 year notes on Wednesday, sending a clear signal to other issuers from the country that issuance conditions have improved sharply.

Brazilian food producer BRF Foods has mandated six banks to manage a roadshow ahead of a potential euro denominated green bond, on the same day that it announced a tender offer via a different set of banks.

The head of investor relations at Mexican state-owned oil giant Pemex is leaving the company after nearly four years in the position.

Chile reaffirmed its commitment to the European bond market on Tuesday with a dual-tranche issue designed to lure the country’s companies to fund themselves on the other side of the Atlantic.

Latin American bond bankers praised Itaú Unibanco on Monday for issuing the “ideal” trade to reopen dollar bond markets for Brazilian borrowers, with its $1bn senior unsecured issue.