Latin America

The Central American renewable energy subsidiary of multinational conglomerate Corporación Multi Inversiones (CMI) will begin investor meetings on Friday as it seeks to become the first debut issuer from Latin America since May.

Mexican home appliances company Controladora Mabe will look to raise up to $370m of senior notes as three companies from Latin America look to international bond investors despite a soft market tone.

Bond market analysts and investors warned that post-election market euphoria in Brazil could fade quickly even if right-wing populist Jair Bolsonaro, who has outlined a market-friendly economic plan, wins in the second round as seems likely.

Mexican home appliances company Controladora Mabe is looking to buy back bonds due next year as Latin American companies continue to focus on liability management.

The spread on Colombia’s $2bn new issue hung in close to reoffer levels on Thursday as the speed of the US Treasury sell-off spooked some EM investors, just as it seemed the asset class was returning to form.

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.