Latin America

Brazilian lender Banco Daycoval sold a new five year senior unsecured dollar bond on Friday, coming some 25bp inside where its compatriot BTG Pactual had priced a similar deal earlier on Tuesday.

Banco Daycoval looked set to become the second Brazilian lender to price a five year senior unsecured bond after setting guidance on Thursday afternoon, as markets appeared to shrug off US president Donald Trump’s latest tariff threat.

Mexican chemicals company Cydsa has scheduled a roadshow as it looks to reopen a bond that investors say suffers an illiquidity premium. The expected increase in debt has led S&P to assign a negative outlook to the company’s rating.

Brazilian construction and engineering firm Andrade Gutierrez finally looks set to push out a looming bond maturity after an exchange offer found better take-up than a new issue and tender.

Mexican chemicals company Cydsa has scheduled a roadshow as it looks to reopen a bond that investors say is suffering an illiquidity premium. But the expected increase in debt led Standard & Poor’s to assign a negative outlook to the company’s rating.

Brazilian investment bank BTG Pactual sold senior debt abroad for the first time in nearly two years on Tuesday, opting to push on despite volatile conditions as trade fears again worry investors.

Market participants expect Uruguay’s new centre-right government to tighten fiscal policy, but rating agencies believe doing so will prove a difficult balancing act.

Peru will buy back a portion of local currency bonds maturing next year after nearly a third of the holders of the notes agreed to participate in a tender offer, bringing the sovereign’s latest liability management exercise to a close.

Prices on Ecuador’s government bonds began to recover this week as investors and analysts said that the debt had been over-sold after President Lenin Moreno’s economic growth law was rejected last week.

Bond buyers and bankers said that a relatively quiet year for financial institution issuance in Latin America should ensure a warm reception to three banks from the region which are lining up bond deals.

Bonds issued by Mexican polyethylene producer Braskem Idesa were heavily bid on the break as investors said that the deal had been priced at a very attractive level versus comparable securities.

As Latin America's international bond markets took an extended break for the US Thanksgiving holiday, a Brazilian lender is set to give investors more food for thought in December with a senior unsecured issue.