LatAm Bonds

Mexico’s state oil company Petroleos de Mexico (Pemex) closed a $2.5bn senior unsecured syndicated revolving credit facility last Friday (September 14) through joint bookrunners Barclays Capital, BBVA Securities and Calyon.

Venezuela will relaunch its Bono del Sur III joint bond offering with Argentina on Monday.

There was some more gentle movement in LatAm local bond markets this week, with bond sales from BBVA Chile and Peru’s Edelnor being priced on Tuesday, while Brazilian and Mexican corporates have filed for new transactions. Global new issues remain on hold.

Franklin Canelos, vice-president of Ecuador’s debt commission, said there are indications of "illegitimacy" in some of the country’s external debt.