Latin America

Jamaica found plenty of demand for its annual bond issue on Tuesday, notching new issue concessions more usually achieved by higher rated credits.

Argentine credits tightened throughout the start of the week as bond markets basked in better than expected results for the ruling party at Sunday’s primary elections.

Chilean life insurance company Confuturo this week announced its adoption of Bloomberg’s multi-asset risk system (MARS) collateral management tools, in an effort to manage the demands of new global margin rules.

Jamaica has announced initial price thoughts on taps of its existing 6.75% 2028s and 7.875% 2045s as it looks to raise new cash to buy back existing bonds.

Peruvian power generator Cerro del Aguila attracted more than $3bn of orders for its inaugural Eurobond on Wednesday.

Peruvian power generator Cerro del Aguila attracted more than $3bn of orders for its inaugural Eurobond on Wednesday.

Investor interest in the second leg of Chilean copper miner Codelco’s tender offer has been strong, with almost $1bn of bonds tendered by the early bird deadline.

Argentine company MSU Energy is considering approaching international bond markets for the first time, credit analysts in Buenos Aires say.

Two Panamanian companies sold rare bonds from the country on Tuesday, taking advantage of pricing off one of the tighter sovereign curves in Latin America.

Mexican broadcaster TV Azteca achieved impressive size and pricing and a strong secondary market performance when it sold its first bond in four years this week, brushing off investor concerns about its history and potential low liquidity.

The Republic of Colombia found conditions too good to resist this week, raising $1.4bn of 10 year bonds on Wednesday to complete its international funding for the year and prefund some $900m of next year’s needs.

Exceedingly good conditions enticed Colombia to the bond markets on Wednesday for an earlier than usual second dollar issue of the year that came with a single digit new issue premium.