Latin America

Mexican cement company Cemex will look to buy back as much of its 9.375% senior secured 2022s as possible after announcing a tender offer for the bonds.

Mexico chemicals company Mexichem is planning a return to international bond markets, according to syndicate bankers, as part of its acquisition of Israel drip irrigation firm Netafim.

Central American development bank Cabei’s acting head of capital markets is moving to Washington, DC to become lead funding officer at the Inter-American Investment Corporation (IIC) in the treasury division.

Brazilian state oil giant Petrobras returned to bond markets on Monday with a liability management driven trade that bankers say should hit $6bn at least once a concurrent exchange offer is completed. But the deal traded down in the grey market — to the surprise of many.

Venezuela replaces the dollar with the renminbi as the quoting currency for its oil exports, the People’s Bank of China says bankers are confident about the Chinese economy, and the Shenzhen-Hong Kong Stock Connect sets a new record in turnover volume.

Latin American oil and gas company GeoPark sold $425m of seven year non-call four notes last week, with the first leg of a concurrent tender offer due to expire on Tuesday.

More than 65% of the holders of Brazilian mining giant Vale’s 4.625% 2020s agreed to sell their bonds before last week’s early-bird tender deadline.

After Uruguay’s success last week, pan-EM mobile and cable company Millicom raised hopes on Monday that more local currency supply would be on the way.

Uruguay’s head of sovereign debt management said that the sovereign was committed to developing its global nominal peso-denominated bond curve in an interview with GlobalCapital about the country’s latest local currency issue last week.

Argentina’s most north-western province raised $210m of green bonds due in 2022 on Wednesday, as bankers say activity is ready to recommence in earnest.

A special purpose vehicle backing the construction of Mexico City’s new airport was the highlight in a hectic week for Lat Am new issues, with 10 borrowers pricing nearly $8bn of deals in the space of four days.

Peruvian electricity generator Fenix Power Perú, which is operated by well-known Chilean firm and bond issuer Colbún, sold its first ever international bond in a busy day for Lat Am markets on Wednesday.