LatAm Bonds
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Colombia’s largest oil company Pacific Rubiales has mandated Bank of America Merrill Lynch, Citi and HSBC to manage a non-deal roadshow spread over a month as its bonds remain marked in the 50s and 60s. -
An SPV owned by the concessionary of Peruvian fibre optic cable network project Red Dorsal priced a $273.7m variable funding note (VFN) with Peruvian government guarantee and delayed draw structure both in place to reduce the cost to the borrower.
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The Central American Bank for Economic Integration (Cabei) has sold its inaugural bond in Peruvian nuevo sol.
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Brokerage firm Cantor Fitzgerald has appointed three managing directors to its emerging markets DCM sales and trading team, nearly three years after they hired the team’s co-heads to start the business.
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Credit Suisse and Banco Espirito Santo could price a rare structured bond in Peru as soon as Tuesday, despite a quiet secondary market in Latin America bonds ahead of the long Easter weekend.
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Paraguay will again return to the international bond markets to finance its infrastructure programme after two successful bond issues since 2013.
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Ecuador is considering returning to bond markets to raise at least another $250m after its last attempt earlier in March did not reach the intended size.
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Uruguay’s new government has appointed former IMF economist Herman Kamil as director of its Debt Management Unit (DMU), according to an email from the unit.
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Latin American DCM bankers are hopeful that depressed corporate bond volumes will pick up after Easter.
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Bankers covering Latin America praised Colombia’s quick reaction pouncing on a rally in US Treasuries to issue a $1bn 30 year bond on Monday.
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What syndicate bankers are describing as the “Brazil premium” means that even Brazilian borrowers unaffected directly by the scandal at state-owned energy company Petrobas remain absent from international debt capital markets.
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Colombia telecoms firm ColTel gave investors juice aplenty on its hybrid perpetual bond on Wednesday. Even bankers off the deal said it boded well for a depressed LatAm corporate bond market.
