LatAm Bonds

Brazil looks likely to be the next Latin sovereign to access global bond markets. On Monday treasury under-secretary Paulo Valle talked of a sale of up to $500m in its 6% 2017 dollar paper. Currently Brazil has $2bn outstanding of the bonds.

Brazilian bank Cruzeiro do Sul and Guatemala’s Banco Industrial are both expected to price bonds today (Friday), continuing the run of small dollar-denominated issues from Latin American banks.

Venezuela closed the books on its bond sale of at least $3bn yesterday, the year’s biggest sovereign issue from Latin America so far.

Vimpelcom yesterday (Thursday) joined the growing parade of Russian blue-chip names tapping the bond market for chunky new issues.