Latin America

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.

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.