LatAm Bonds

Chile-headquartered retailer Falabella sold $400m of 10 year bonds on Wednesday in a deal that LatAm debt bankers said confirmed the market was wide open as up to eight issuers from the region prepare bond issues before numbers go stale in the second week of November.

Mexican government-owned oil company Pemex will visit European investors next week on a non-deal roadshow, a source close to the borrower said.

Gloomy prospects for global growth may have caused severe bout of volatility in the past week, but Colombia emphatically demonstrated the silver lining that the Treasury has provided borrowers. The sovereign tapped its 10 and 30 year benchmarks for $500m each on Tuesday as part of a pre-funding exercise during what the country’s debt management head described as a “spectacular” window for new issuance.

Peruvian cement and concrete company Unión Andina de Cementos (Unacem) begins a roadshow on Tuesday ahead of a debut international bond issue to be used to finance the acquisition of Lafarge Ecuador.

Chile is aiming to tap the euro market for the time as part of its return to the cross-border bond markets after a two year absence, a source close to the borrower said.

Chilean power company E-CL was set to announce a long awaited bond issue on Monday morning after capital markets showed signs of stability towards the end of last week. The outcome will be of particular interest to SQM, the Chilean chemical firm that announced its bond roadshow on Friday.

Brazilian bond prices indicate that investors are unsure of the outcome of the second round of the country’s elections on October 26, though observers warn that even if the market’s favourite Aécio Neves wins, the road ahead for Brazil is not smooth.

Chilean power company E-CL opted not to issue a planned bond on Thursday as LatAm DCM and syndicate bankers said they would be in no rush to issue during periods of volatility.

Chilean power company E-CL will decide on Thursday morning whether to announce its planned dollar bond issuance, after a remarkable bout of volatility on Wednesday disturbed fixed income markets.

Nearly three quarter of bondholders of Argentine industrial conglomerate Clisa (Compañía Latinoamericana de Infraestructura & Servicios) have agreed to extend the maturity of their debt after the borrower increased the fee on offer, although rating agencies remain concerned about Clisa’s capacity to pay.

E-CL, the largest power generator in the north of Chile, finishes the roadshow for its dollar bond on Wednesday.

Chilean bus company Alsacia will present its restructuring proposals to a US court after more than four fifths of its bondholders approved the plans.