Latin America

Aeropuerto de Tocumen, the airport of Panama City, was the only Latin American to raise debt in international markets this week as it raised $225m of 30 year money.

Two Argentine corporates postponed bond issues on Thursday as the Central Bank of Argentina’s (BCRA) attempts to control the fall in the peso proved fruitless, leaving investors asking questions about the country’s economic outlook. Oliver West reports.

Engineering and construction company Andrade Gutierrez Engenharia, one of the largest contractors in Latin America, failed to repay a senior unsecured bond that matured on April 30.

Chilean state-owned copper mining company Codelco raised $600m of 30 year money in Taiwan on Monday in the first Formosa trade from a Chilean corporate.

Petróleos Mexicanos (Pemex) sold 5.5 year Swiss franc bonds on Thursday, its first issue in the market for two years. With international supply falling in the last few years, Swiss investors leapt at the opportunity to buy investment grade Latin American credit.

Brazilian oil and gas producer Petrobras will continue to tidy up its debt profile with the buy-back of two bonds due in 2020, it said on Wednesday.

Engineering and construction company Andrade Gutierrez Engenharia, one of the largest contractors in Latin America, failed to repay a senior unsecured bond that matured on April 30.

Camposol has launched a tender offer for its 10.5% 2021s for the second time this year, as the Peruvian agricultural company looks to revive a new bond sale.

Chilean state-owned copper mining company Codelco raised $600m of 30 year money in Taiwan on Monday in the first Formosa trade from a Chilean corporate.

The largest telecommunications company in Argentina has become the latest issuer from the country to look to international bond markets, even as traders and investors fret over a swift slump in the peso.

The Central American Bank of Economic Integration (Cabei) was back in Taiwan’s Formosa market on Friday with a renminbi-denominated bond, more than 18 months since its last renminbi-denominated issuance.

Mexican IT infrastructure provider Kio Networks was unable to budge pricing on its second ever international bond on Thursday, but market participants following the deal said the company should be happy with the result amid tough market conditions.