LatAm Bonds
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Ecuador has picked banks for a roadshow ahead of it first deal in almost a decade. But healthy economic growth and a chunky coupon are unlikely to be enough for investors to overlook a history of serial default. -
Peru’s largest lender Banco de Crédito del Perú (BCP) is looking to swap its outstanding 2016 bonds for new notes due 2018.
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Bond investors and bankers covering Latin America from the US may not pay too much attention to the football World Cup, but may find unexpected out-of-office replies from Brazilian and LatAm borrowers when the tournament starts on June 12.
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América Móvil’s reopening of the local currency new issue market in Latin America this week is unlikely to trigger a surge in issuance — despite strong interest from issuers and participation from international buyers.
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LatAm bond syndicate bankers have been fielding calls from issuers eager to raise debt in local currency but América Móvil’s dual tranche peso-denominated bond sale is unlikely to lead to a surge in issuance.
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Brazilian industrial conglomerate Votorantim is looking to buy back as much as $1.06bn of dollar bonds through tender offers for bonds issued by three subsidiaries.
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The oil and gas arm of Brazilian conglomerate Odebrecht will meet investors from Thursday ahead of a planned 144A/Reg S perpetual bond issue.
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Carlos Slim’s telecoms group América Móvil sold the first global local currency bond from Latin America for over a year on Monday, overcoming the concerns of some investors about the poor liquidity in the notes.
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Panamanian lender Global Bank is set to become the second financial from the country to tap the Swiss franc market on Tuesday, looking to appeal to Swiss retail investors with a juicy coupon for a modestly sized deal.
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Financiera Independencia (Findep) and Empresas ICA have both followed up new bond issues with strong responses to tender offers for outstanding notes as LatAm borrowers continue to capitalise on strong conditions and low rates to refinance existing debt.
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Fairy tale conditions for Mexican issuers show little sign of letting up as commercial lender Banco Inbursa and microfinance company Financiera Independencia (Findep) sold well oversubscribed deals.
