LatAm Bonds
-
Brazilian construction company OAS doubled the initial deal size for its debut global bond on Thursday after luring in $5.5bn of orders with a structure attractive to private bank and other investors.
-
Mexican car parts maker Metalsa made its debut in the bond market on Wednesday with a $300m 10 year transaction.
-
Brazilian conglomerate Odebrecht closed a dual tranche deal in dollars and Brazilian real on Wednesday. Its engineering arm Constutora Noberto Odebrecht (CNO) will use the proceeds to fund a buyback, which is expected to improve the maturity profile and average cost of that company’s debt.
-
A clutch of Latin American companies is in the process of winding up roadshows, raising the prospect of busy bond issuance from the region if external market conditions prove conducive.
-
Mid-sized Brazilian lender Banco Fibra (Ba3/BB-) raised $150m of three year money in a Reg S deal on Friday as it recovers from a difficult period in which expansion into consumer lending hit earnings.
-
The LatAm market again showed its receptiveness to Central American sovereigns as the Dominican Republic (B1/B+/B) sold a six-times subscribed $1bn bond due 2024 on Thursday.
-
Brazilian steelmaker Gerdau (Baa3/BBB) and meatpacker JBS (B1/BB-) capitalised on resilient market conditions to raise funds on Monday as Brazilian issuers look to make up lost ground after relatively low deal volumes in the first quarter.
-
Mexico capitalised on growing demand for EM sovereigns and positive sentiment for its new president’s sweeping reform agenda to re-engage with European investors this week, selling the largest ever single tranche euro-denominated bond from a LatAm issuer.
-