LatAm Bonds
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A quartet of billion-dollar benchmarks helped drive issuance volumes to a seven-month high in Latin America this week as a diverse array of borrowers from Aruba to Brazil and Digicel to Vale took advantage of benign market conditions.
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Obrascón Huarte Lain (OHL), a Spanish construction company, is asking the holders of €1.425bn of bonds for consent to make changes to their documentation, following a sale of assets to Abertis and Brookfield announced earlier this month.
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América Móvil achieved its lowest ever coupon — and the lowest of all single-A rated Swiss franc bonds printed this year — when it issued a Sfr250m ($256.1m) 1.125% six year note on Wednesday. The deal followed a string of issues in core currencies from the borrower in July.
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The World Bank returned to the Mexican peso market for the second time this year when it priced a MP800m ($60.9m) two year trade on Tuesday, which it increased by a further MP200m the following day.