Latin America

Brazilian issuers continue to focus mostly on liability management rather than new debt raising as a combination of weak conditions and looming presidential elections makes timing new deals difficult.

Caribbean island nation Barbados said on Wednesday that views were “converging” over the possible size of its fiscal consolidation, setting the stage for negotiations with bondholders to begin.

Caribbean island nation Barbados said on Wednesday that views were “converging” over the possible size of its fiscal consolidation, setting the stage for negotiations with bondholders to begin.

French lender BNP Paribas has hired from a rival house to add to its Latin American debt capital markets team.

Mexico filed a $10bn debt shelf with the US Securities and Exchange Commission on Tuesday, leaving bankers to ponder when Mexican issuance could return.

Standard & Poor’s has upgraded Central American development bank Cabei to A+ and left it on positive outlook, as the lender edges closer to its much-vaunted double A credit rating — a level at which it may return to the dollar benchmark market.

Brazilian issuers continue to focus mostly on liability management rather than new debt raising as a combination of weak conditions and looming presidential elections makes timing new deals difficult.

Frontier markets specialists Exotix Capital has made four new appointments to its EM sales business, expanding its coverage in four different geographies.

Brazilian utility Cemig ended a three week hiatus in offshore Latin American bond issuance this week and was swiftly followed by the Dominican Republic as the two high yield borrowers raised a combined $1.8bn.

Chilean utility AES Gener will buy back $200m of old bonds after investors pledged to sell more than the maximum purchase amount that the company had set before the early bird deadline of July 11.

Dutch lender ING has hired a director to focus on Latin American and high yield debt capital markets origination as part of its recently launched global capital markets Americas group.

Brazilian utility Cemig will test appetite for high yield issuance in Latin America on Thursday after it approached investors about the possibility of tapping of its existing dollar bond.