Latin America

Brazilian utility Cemig on Thursday notched up $1bn of seven year money well inside the expectations of many market participants, as bankers said LatAm funding conditions were as strong as ever.

Brazil’s largest airline, Gol, is set to return to bond markets boasting five consecutive quarters of positive cash generation just a year and half after a distressed debt exchange on which some bondholders took a hefty haircut.

As two financial market favourites made important strides in Mexican public life this week, bond investors in Europe gave an extraordinary welcome to high yield cement company Cemex on Tuesday.

The day after the president named him as Mexico’s new central bank chief, Alejandro Díaz de León tells GlobalCapital about the inflation challenge, and adds that the world’s central bankers should be keeping a close eye on the “atypical” business cycle in advanced economies.

The day the president named him as Mexico’s new central bank chief, Alejandro Díaz de León tells GlobalCapital about the inflation challenge, and adds that the world’s central bankers should be keeping a close eye on the “atypical” business cycle in advanced economies.

Corporacion Andina de Fomento tapped its September 2027 Kangaroo line on Tuesday, the first increase since it opened the line in March.

Mexican cement group Cemex made a spectacular return to European bond markets on Tuesday, increasing the size of a seven year non-call three deal that bankers saw as coming inside fair value.

Brazilian low cost airline Gol will look to raise between $350m and $550m of new seven year notes as part of a liability management exercise, less than 18 months after a distressed debt exchange.

Colombia’s finance ministry has turned to a former employee to run the public credit office after the previous chief funding official resigned last week.

A Brazilian high yield duo is set to test the Lat Am bond market’s appetite for risk next week as they plot two of the racier deals to emerge from the region this year.

As much as Latin American bond markets have enjoyed a record year, trades of $300m or under that are not eligible for indices have largely struggled.

Brazilian energy company Petrobras has returned to the loan market after a four year absence with a $1bn syndicated loan.