LatAm Bonds
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Banco de Chile sold its debut Swiss franc bond on Friday, a five year note. The deal saw healthy investor participation, with investors keen to get involved in a market that has been lacking in international names in recent weeks.
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Bankers revelled in receptive market conditions as deals from GNB Sudameris and Falabella late on Thursday brought LatAm supply for the week to nearly $4bn — with Friday still to come.
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Transportadora de Gas del Perú (TGP) became the latest Peruvian company to take advantage of international debt markets for the first time, selling the largest ever bond from a corporate in the country.
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Investor confidence that low interest rates are not likely to change soon allowed Costa Rica and Panama to print long-dated bonds at low yields this week. Panama went for 40 years on Monday, while Costa Rica raised 30 year money on Tuesday. Both deals were heavily oversubscribed.
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Colombia’s finance minister described the latest upgrade of the sovereign’s credit rating by Standard & Poor's as a “milestone” for the country, coming as it has just two years after the sovereign first gained investment grade status.
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The Mexican subsidiary of railway company Kansas City Southern priced $725m of seven and 10 year notes on Wednesday as bankers said the Latin American bond market was well capable of absorbing the high levels of supply seen so far this month.
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Avianca, the oldest airline in the Americas, has mandated Citi and JP Morgan to manage a planned international bond sale of $300m.
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Peru’s largest bank, Banco de Crédito del Perú (BCP), will exchange $334.565m of its 2016 senior unsecured bonds for new 2023 notes after accepting all the tendered bonds.