Latin America
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A fresh round of US sanctions on Venezuela’s government will add to the pressure on 46th president of Venezuela Nicolas Maduro to clear off, said bond investors. -
Brazilian pulp and paper producer Suzano returned to bond markets for the third time in five months on Tuesday, tapping its 2029s for a further $750m.
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The US sanctions slapped on Petroleos de Venezuela (PDVSA) this week look similar to those that have just been removed from Russia’s EN+ and Rusal. The move indicates that the US believes in the effectiveness of sanctions and is happy to keep deploying them. Emerging markets investors should beware.
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Liquidity-constrained South American sovereign Ecuador was quick to take its chance to raise much-needed funds on Monday after a strong rally in its bonds, but the deal had investors and analysts worrying an IMF deal is further away than thought.
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The largest and best rated airline in Latin America has mandated six banks to lead a bond sale as it prepares to issue $500m-$700m of senior unsecured bonds.
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Corporación Nacional del Cobre de Chile, the largest copper producer in the world, became the first Latin American quasi-sovereign to tap bond markets this year as it returned to the long end of the curve.
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Brazilian building materials company Votorantim Cimentos has increased the size of a tender offer and given bondholders more time to participate, it said on Friday.
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Mexican non-bank lender Crédito Real has cancelled a tender offer and will now issue a smaller bond than initially planned, owing to market concerns regarding potential government policy, GlobalCapital understands.
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Investors who took a chance on an unusual ice-breaker for the 2019 Latin American corporate bond market were rewarded on Thursday as the bond was up 2.75 points the day after pricing.
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South American sovereign Colombia pulled off what one banker called a textbook trade on Wednesday, finding strong demand, tightening significantly from price talk, and then seeing the notes edge tighter in the secondary.
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Corporación Andina de Fomento (CAF) is planning to issue its first public green bond this year, after kicking off its 2019 funding with a euro benchmark and announcing plans to meet US investors next week.
