LatAm Bonds
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Brazilian lender Banco Fibra is planning to bring a $150m-$200m Reg S bond to market next week after completing a roadshow in Europe.
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Single-B rated Brazilian ethanol company Aralco began a roadshow on Wednesday ahead of a potential debut international bond of up to $300m.
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An unusually large participation from Brazilian buyers helped the investment arm of merchant bank BTG Pactual to $700m of BBB- rated five year money on Wednesday, in its first outing in the international bond markets.
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The investment arm of Brazilian merchant bank BTG Pactual raised $700m of five-year money on its first outing in the international bond markets on Wednesday, offering a yield of 4.625%.
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Mexico’s head of public credit has told EuroWeek that the sovereign’s record-breaking euro 10 year on Tuesday was a sign of its commitment to maintaining dialogue with European investors, after the borrower printed the largest ever single tranche euro deal from a Latin American borrower.
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Mexico has returned to the euro market for the first time in nearly three years, opening books on a new 10 year benchmark as part of a tender and exchange offer.
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Single B rated Brazilian ethanol company Aralco will start a roadshow on Wednesday ahead of a potential debut international bond of up to $300m.
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The LatAm debt capital markets have a distinctly Brazilian flavour so far this week as steelmaker Gerdau (Baa3/BBB) and meatpacker JBS (B1/BB-) capitalised on resilient market conditions to raise funds on Monday.
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Peru’s largest bank, Banco de Crédito del Perú (BCP), tapped its tier two bonds due 2027 on Friday, selling a further $170m of the 6.125% paper at 108.479 to yield 4.95%. Citi and JP Morgan managed the Ba1/BBB rated deal, which priced at the tight end of 4.95%-5% guidance and will be used for general corporate purposes.
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Brazilian lender Banco Fibra is planning a $150m-$200m Reg S bond if it receives a positive enough reaction from investors on a roadshow that begins on Monday in Switzerland and moves to London on Tuesday.
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Credit Suisse is the biggest mover in 2013’s Latin America DCM bookrunner league tables, according to Dealogic, taking third place in the first quarter with a market share of 10.2%, having not made the top 10 in full year 2012.
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