LatAm Bonds

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.

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.

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The government of Belize put an end to months of speculation on Wednesday and surprised markets with the release of highly aggressive proposals for the restructuring of its only outstanding international bond.

Mexico moved to take advantage of historically low long-term interest rates this week with an extensive liability management exercise. But analysts said the choice of timing and meagre concessions on offer would be likely to limit take-up.

A pair of Mexican wind farm project bonds breathed momentary life into the moribund Latin American market this week, but Spanish owner Acciona paid the price for issuing in August in the form of a yield wide of initial guidance.

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