LatAm Bonds
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THE Republic of Brazil priced a $525m tap of its January 2037s on Wednesday, the longest-dated emerging markets deal for over a year.
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The European Investment Bank set a new benchmark at the long end of the Kangaroo market this week with the first 10 year deal from a supranational since March 2007.
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The Kingdom of Spain crossed into sub-Libor territory for the first time this year on Wednesday, achieving a discount margin of less 5bp on a Eu3bn three year floating rate note.
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Colombia’s state-owned gas producer Ecopetrol attracted $9bn for a jumbo $1.5bn 10 year debut this week, the latest sign of strong investor appetite for high grade Latin credits.
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The European Community paid the smallest new issue premium so far this year for a sovereign, supranational or agency benchmark this week and achieved tight pricing versus its peers on the Eu2.7bn long five year bond.