LatAm Bonds

Senior Latin American bankers have called for greater international efforts to extend dollar credit lines amid mounting fears that global illiquidity will trigger corporate losses, asset price collapse and economic dislocation in the region. In addition, a consensus emerged that western banks are poised to repatriate capital away from Latin America — which would likely exacerbate the rut in primary market deals.

Agencia Nacional de Vivienda, Uruguay’s national housing agency, has completed drafting a legal framework for covered bonds. The initiative forms part of a wider reform of the country’s housing finance system.

The European Investment Bank and KfW held firm in the face of vociferous demands from some bankers for higher fee levels on their benchmark bonds as a heated debate developed this week between bookrunners and borrowers in the sovereign, supranational and agency (SSA) sector