LatAm Bonds
-
-
-
The Bank of England made its traditional smooth and successful annual visit to the dollar market this week, with a $2bn three year 144A/Reg S bond that was almost twice subscribed. But bankers said the deal did not reflect market sentiment, as appetite for SSA dollar product has cooled markedly over the past week.
-
Instituto de Crédito Oficial (Ico) this week reinforced Spain’s rapid rehabilitation in the capital markets when it took on the tough 10 year maturity and, with the help of a 6% coupon, achieved widespread real money, international distribution.
-
-
The $2bn three year bond that the Bank of England has scheduled for Monday should highlight the SSA sector’s health despite a week of no substantial issues and the withdrawal of some Middle Eastern central bank buyers. While the deal represents the first test of investor appetite for SSAs since the washout, a defensive issue from a triple-A credit is ideal, bankers judged.