Latin America
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The country is taking an exchange rate risk, but perhaps not a big one
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The food maker made its bond market debut in May
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Principal repayments coming due but Bolivia's foreign exchange coffers are bare
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Sovereign is working to diversify its funding sources, including with an unprecedented loan
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Reform will be very painful, but worth it
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Investors have praised the deal, and Pemex's spread to the sovereign has crunched tighter
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Market conditions are 'ultra supportive', said one banker
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Swiss bank is only the second institution globally to use the instrument
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Two-part trade opens new investor base for the LatAm sovereign
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Demand let A rated sovereign cut spread by 35bp
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Investors hope a government more open to fiscal tightening will come to power in 2026
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Three corporates printed this week, as did Peru in its own currency