LatAm Bonds
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Mexican cement company Cemex cancelled its bond issue this week amid investor concerns about the company’s high leverage and its refinancing risks.
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The European Investment Bank issued its first Eu5bn transaction since October 2007 this week amid Eu12bn of competing public sector supply priced at much wider levels.
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Halliburton, the single A-rated energy services firm, made a rare appearance in the market this week with a $1bn 10 year bond at 320bp over Treasuries and a $1bn 30 year at 375bp over Treasuries. The lead managers were Citigroup, Deutsche Bank, HSBC and Royal Bank of Scotland Greenwich Capital.
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The Bank of England this week launched what is being called the most important sovereign, supranational and agency deal yet this year, a $2bn three year issue that provides the sector with a crucial reference point in uncertain times.
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