LatAm Bonds
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Media giant Televisa, one of the monopolies targeted by Mexico’s competition reforms, raised Ps6.5bn ($540m) of 30 year money on Tuesday in a deal similar to América Móvil’s global-local bonds.
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Avianca Holdings, the holding company of the oldest airline in the Americas, priced a debut international bond on Friday after sweetening terms for investors. But some bondholders said it had still been a good time for the borrower to come to market.
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Global local currency issuance from Latin America continued its steady pace of recent weeks as Santander Brasil tapped its 2016 Brazilian real notes for a further R$500m ($249m) in a rapidly executed trade on Thursday afternoon.
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Some market participants expect a resolution to Argentina’s court case (see main story) within a month, saying the debates, arguments and appeals have been exhausted.
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Two Latin American companies snatched debuts in differing circumstances on Tuesday as year-to-date bond issuance by number of deals from financial and corporates in the region reached its highest ever total for the first four months of a calendar year.
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Argentine hydro and wind power company Industrias Metalúrgicas Pescarmona (IMPSA), rated B+, is looking to become the first company from the country to tap the international markets in a year and could price on Friday.
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Argentine hydro and wind power company Industrias Metalúrgicas Pescarmonsa (IMPSA) is marketing itself as a Brazilian play ahead of a possible five year bond, though some investors still see the deal as a test of appetite for Argentinian credit.
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Two Latin American borrowers snatched debuts in differing circumstances on Tuesday in a week that will be interrupted by a public holiday across the region for Labour Day on Wednesday.