Latin America
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Argentina this week jumped on momentum driven by the government’s impressive recent election performance to attract €11.5bn of orders for a triple tranche euro denominated bond — including a 30 year note that is rarely seen in the currency from EM borrowers. Oliver West reports. -
Waiting for a default on Venezuela’s bonds has been like waiting for Godot. Low oil prices and macroeconomic mismanagement have led to a catastrophic collapse in economic activity. Our colleagues in country risk are forecasting a 7.5% GDP contraction.
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Argentina has released price guidance for a €2.5bn triple tranche bond at levels a trader in London described as shockingly wide, while investors started to fret about how much debt the country takes on.
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Latin American power generation and distribution holding company Inkia Energy is likely to sell a new 10 year non-call five bond on Thursday after wrapping up investor meetings on Wednesday.
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Argentine lender Banco Hipotecario returned to the international markets with a peso-linked deal on Wednesday, becoming the fourth Latin American issuer to sell global local currency bonds in two weeks.
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Empresas Públicas de Medellín (EPM) offered an attractive premium to the Colombian government, said analysts, after beating FX volatility to issue the largest ever global Colombian peso deal on Tuesday.
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BBVA is shuffling several senior bankers in its global project finance team, after its global head of energy project finance departed to take up a role at ING Capital in New York.
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South American development bank Corporación Andina de Fomento (CAF) returned to the dollar market this week with a $1bn five year fixed-rate note.
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Multibank, the Panamanian bank, will begin investor meetings on Tuesday ahead of a proposed senior unsecured bond issuance in the US dollar market.
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Grupo Bimbo, the Mexico-headquartered baked goods group, will begin meeting fixed income investors on Wednesday ahead of what would be its first cross-border issuance in over three years.
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Corporación Andina de Fomento (CAF) is this week set to bring its second dollar benchmark of the year, the proceeds from which will be used to pay off a $1bn floating rate note maturing next year.
