LatAm Bonds
-
-
Petrobras, the Brazilian national oil company, completed the second leg of its European funding exercise today with a £700m 15 year issue that was priced at 370bp over Gilts.
-
Brazilian quasi-sovereign Petrobras made a stylish debut in the euro market on Thursday with a dual-tranche deal that brought high grade investors out in force.
-
Analysts from Citigroup argued on Friday that RMBS issuance costs were now between 12% and 35% less than for covered bonds, which could push more issuers into the market in the months ahead. The average saving under Citi’s assumptions was 24%, with the greatest benefit for lower-quality banks.
-
-
A strong debut dollar deal from Peruvian drinks firm Lindley Corporacion and a trio of roadshow announcements from quasi-sovereign names showed that the Latin American bond market was able to fend off the unease in Europe this week.
-
In the eyes of some bankers, the $3bn five year transaction this week for the International Finance Corporation (IFC) was the perfect antidote to the current market turmoil. What was undeniable was that it provided the only bright spot on the sovereign, supranational and agency landscape, which remains mired in the ever-deteriorating situation in Europe.