Latin America

Coca Cola’s Chile-based bottling business Embotelladora Andina (Andina) is planning to replace international debt with domestic bonds, after wrapping up a tender offer for its old 2023s.

Telecoms company Cable & Wireless sold $500m of eight year paper at the tight end of guidance to become the first high yield name from Latin America or the Caribbean to issue in dollars since July 12.

Colombia reopened Lat Am bond markets on Wednesday but Peru is likely to provide a greater test as it meets investors ahead of a proposed nuevo sol and dollar-denominated dual tranche deal.

Cable & Wireless, the Caribbean telecoms company, is set to raise $500m of new eight year non-call three bonds on Thursday as EM investors say they expect US high yield buyers to give the deal momentum.

On the day that Colombia reopened the international bond market for Latin American sovereigns after an almost three month hiatus, Peru announced investor meetings ahead of a proposed nuevo sol and dollar-denominated issuance.

Maybe it was the euphoria of seeing three potential Lat Am borrowers hit the screens on one day after three arid months but DCM bankers heaped praise on Colombia’s dual tranche bond deal on Wednesday as it tapped international markets for the first time in over a year.

Turkish and Argentine assets have been battered over the past few months, but one investor believes that both countries can provide good value and is expanding its exposure.

Top investment-grade names from Latin America could find a strong reception if they dare to approach primary bond markets, said bankers, after one of the best rated corporates in the region filed a debt shelf with the SEC.

Central American multilateral Cabei (Central American Bank of Economic Integration, otherwise known as BCIE for its Spanish name) has appointed a new executive president who will begin his role on December 1.

Cobre del Mayo, which operates the third largest copper mine in Mexico, is looking to use a bank loan to buy back debt at deeply depressed prices in attempt to cut its debt burden.

Coca Cola’s Chile-based bottling business wrapped up meetings with local investors on Friday as it planned to replace international debt with domestic bonds.

Yields on Argentina’s dollar-denominated debt hit their tightest levels since early August on Thursday after the IMF increased the size of its financing package from $50bn to $57.1bn.