LatAm Bonds

Colombian utility Empresas Públicas de Medellín, this week sold a Ps965.745bn ($500m) global peso deal at a yield of 7.625%. The note was three times subscribed, according to a syndicate official away from the deal, who added that the deal was a positive indicator of growing local currency demand.

BTG Pactual has mandated BB Securities, Bank of America Merrill Lynch, Bradesco BBI, BTG Pactual, Citi and Santander to arrange a perpetual tier one deal.

Brazil took advantage of the expected negative supply of Latin America sovereign bond paper to sell a $1bn tap of its 4.25% 2025s on Wednesday nearly flat to the country’s outstanding bonds.

Colombian utility Empresas Públicas de Medellín, has sold a COP965.745bn global peso deal at a yield of 7.625%. The note was three times subscribed, according to a syndicate official away from the deal, who added that the deal was a positive indicator of growing local currency demand.

Mexican building material suppliers and cement producer Cemex is selling euro and dollar bonds to fund the buyback of the company’s dollar 2018s and 2020s. The Reg S/144A notes will be priced later on Thursday.

Chilean bus operator Inversiones Alsacia said on Sunday afternoon that an “informal” group of bondholders — owning more than 60% of its existing debt — had agreed to the company’s debt restructuring.

The Venezuelan vice president for the economy, oil and mines minister, and president of oil company PDVSA is planning to meet investors in New York in September in a trip that some hope will shed some light on the next step for steel company Sidetur. The firm defaulted on its bonds a year ago.

Standard & Poor’s removed Brazilian low cost airline GOL from negative outlook after the company announced its second bond tender of the quarter on Tuesday. GOL is aiming to buy back dollar bonds maturing in 2017, 2020 and 2023.

Latin American markets once again proved their resilience to events elsewhere in emerging markets as the rally in the LatAm debt maintained momentum, leaving bankers positive that issuers will be able to enjoy welcoming conditions when new issue activity reignites in September.

Only three LatAm borrowers have been tempted into the bond market so far in August but all indicators suggest that the conditions issuers enjoyed before the summer break will be at least as welcoming in September, when issuance is expected to reignite.

Brazilian low cost airline GOL announced its second tender of the quarter on Tuesday as it aims to buy back dollar bonds maturing in 2017, 2020 and 2023.

Deutsche Bank has appointed Andrés de Goyeneche, head of capital markets and treasury solutions for Chile, as chief country officer for the South American nation, replacing Manuel Irarrazabal.