Latin America
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Gol, the Brazilian low-cost airline, will buy back $21.3m of its outstanding 2020s after wrapping up a tender offer. -
Carlos Vargas, managing director in Latin American DCM at Mizuho Securities USA, has left the bank, GlobalCapital understands.
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Genneia could return to international bond markets soon, according to market participants in Argentina, after the energy company’s board approved an increase of its global bond programme.
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After Latin America made a record start to 2018, bankers expect primary supply to keep flowing at a strong pace —despite investors already fretting about the tight pricing on new deals.
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The co-founder of emerging markets broker Torino Capital has joined a hedge fund as portfolio manager — just over half a year after he left the business he built.
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Four Latin American corporates priced a total of $3bn of new debt on Thursday, as investors said they were grateful for the chance to get their hands on new paper but not overly enthused about the yields on offer.
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The CFO of Brazilian railroad operator Rumo told GlobalCapital that improvements in the company’s credit metrics allowed it to successfully issue in dollars on Wednesday, despite the issuer not guaranteeing the bonds with its main operating company as it had for its previous deal.
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Mexico issued in euros for the first time since 2016 on Tuesday, coming tight to its dollar curve and wrapping up its external funding for needs for the year already.
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Mexican non-bank lender Unifin Financiera is plotting a subordinated perpetual deal, according to bond market sources, after Peru’s Interbank became the latest Latin American financial name to issue on Wednesday.
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Brazilian railroad operator Rumo clinched its second dollar bond on Wednesday, offering a pick-up to its previous deal and building a hefty order book in the process.
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Though bankers may have expected the first quarter of 2018 to play out with a glory run of slam dunk deals, a recent back-up in US Treasury yields has left some big name investors calling the start of a bear market in bonds.
