Latin America

Debt capital markets bankers said that the pricing Mexican state oil company Pemex achieved on a rare 40 year tranche was one of the highlights of a busy Tuesday in Latin American primary markets.

Colombia made its usual January bond market outing on Tuesday, unperturbed by protests across the country and capturing strong demand despite some indications of worry about the long-term fiscal picture.

Mexican bottling company Coca-Cola Femsa has defined the buy-back price of its 2023 senior unsecured bonds as it looks to mop up some outstanding debt.

The Republic of Chile has mandated banks to arrange its second euro green bond offering, as well as launching a tender offer of outstanding euro debt.

Ecuador raised $400m of funding for social housing at a lower cost than its conventional curve thanks to an innovative tranched structure that also offered junior bondholders the chance to gain some extra pick-up with exposure to one of the highest paying sovereigns in Latin America.

Colombian holding company Grupo Aval could return to bond markets for the first time in eight years after mandating banks to manage investor meetings.

Brazilian steel producer Companhia Siderúrgica Nacional (CSN) will continue its focus on addressing short-term debt maturities with a proposed benchmark that it wants to use to fund a tender for bonds maturing in July.

Peruvian food producer Camposol is lining up a new bond with credit ratings improved after a corporate reorganisation. Camposol is hoping to have better luck with market conditions after suffering cruel timing on two previous attempts to print bonds back in 2018.

Issuers from Latin America’s largest economy finally began feeding a yield-hungry buy-side this week, as bankers say there is little sign of investors turning their noses up at apparently rich valuations.

Chemicals company SQM became the latest Chilean firm to issue internationally on Thursday, as the country’s corporates continue to take advantage of high levels of liquidity to pre-fund ahead of a potentially volatile year.

Latin American DCM bankers urged the region’s sovereigns to accelerate their funding plans after Paraguay notched a negative new issue premium in the sole sovereign trade of the week.

Latin America bankers said that this week Mexico showed again that it was a leading issuer in the region after the sovereign sold its second deal of the year to take advantage of remarkable funding conditions.