LatAm Bonds

Guatemala’s head of public credit said on Wednesday that the Central American sovereign hoped to resolve in the “next two days” a dispute with Florida-based Teco Energy that has caused its fiscal agent in New York to freeze a coupon payment due at the start of this month.

Guatemala is locked in a legal fight with Florida-based Teco Energy that public credit director Rosa María Ortega said in a motion to a New York District Court endangered the Central American sovereign’s “perfect” bond repayment record.

Chile will look to sell $1.8bn-equivalent of Euroclearable, peso-denominated domestic law bonds to local and international investors on Thursday, according to the finance ministry.

Mexico will hold a virtual non-deal roadshow with Japanese investors next week, according to Gabriel Yorio, Mexico’s deputy finance minister.

Peruvian private healthcare provider Auna sold its first international bond on Tuesday, overcoming major political volatility in its home country as bankers said the limited offering of Peruvian corporate paper played in the issuer’s favour.

Latin America DCM bankers’ promises that a sovereign would jump on recent market positivity materialised on Monday as Mexico turned to international bond funding for the fifth time this year with a heavily oversubscribed liability management exercise that totalled $6.625bn, once switch-tenders were included.

Brazilian pulp and paper company Suzano tapped its sustainability-linked notes for a further $500m on Monday, overcoming rating agency concerns about leverage to issue 85bp inside where it originally sold the bonds just two months ago.

B2W Digital, the digital arm of Brazilian retail group Americanas Universe, began investor calls on Monday as it looks to debut in international bond just weeks after its parent company successfully did the same.

Mexican power generator FEL Energy is the most recent Latin American credit to announce bond issuance plans but bankers covering the region expect several drive-by trades this week before the US Thanksgiving holiday cuts the window short next week.

Suriname has accepted bondholder pleas to participate in discussions with the International Monetary Fund as it looks to persuade creditors to grant five months of payment relief ahead of a full-blown debt restructuring.

The Inter-American Development Bank’s board of directors on Friday appointed the executive team that will serve under recently installed president Mauricio Claver-Carone, with former finance ministers of Paraguay and Ecuador taking key roles.

Marcelo Delmar, a veteran of Latin American bond markets, has joined Morgan Stanley’s debt capital markets team in New York, GlobalCapital understands.