Latin America

One pricing and one roadshow announcement on Wednesday ensured that Chile continues to lead the way this year in terms of Latin American bond issuance.

Latin America’s rising star Paraguay took advantage of low sovereign issuance from the region so far this year to tap existing 30 year bonds with a negative new issue concession, according to debt capital markets bankers.

Brazilian media group and broadcast TV company Globo Comunicação e Participações will likely price a new 10 year bond on Thursday after setting initial price thoughts on Wednesday.

Latin America’s rip-roaring start to the year took a slide down the credit curve on Tuesday with two high yield deals — to no discernible impact on investor appetite.

Chile will return to international markets with a green bond to fund transport plans after its portfolio of projects received a favourable opinion from third-party providers.

Fomento Económico Mexicano (Femsa), the Mexican conglomerate, sold $1.5bn of 30 year bonds on Tuesday more than three months after completing a roadshow as DCM bankers said that the decision not to bow to investor demands last year had paid off.

Remarkable funding conditions drove Mexico to the euro market on Tuesday just a week after it issued in dollars as a bulging order book again suggested that investor fears over the government’s management of the economy have subsided.

Mexico’s head of public credit told GlobalCapital that he felt the government’s economic management was winning over investors after the sovereign notched a heavily oversubscribed dollar deal last week.

Embotelladora Andina, the third largest Coca-Cola bottler in Latin America and seventh largest in the world, will begin a roadshow on Monday ahead of an expected 10 year bond.

Mexico returned to its role of opening Latin American bond markets for the year on Monday, triggering a slew of issuance from the region as bankers predict the bulk of 2020 supply will come in the first half.

Generation company Termocandelaria Power Limited (TPL) returned to capital markets on Thursday to start Colombian bond issuance for the year. The sovereign is expected to follow suit soon.

Four Chilean issuers raised dollar funding in the first three days of the first full week of 2020, as hefty order books suggested investors shared the government’s confidence in the country’s outlook.