Latin America

The Province of Buenos Aires tapped its existing 2019s and 2027s for a total of $750m on Friday to take advantage of still favourable market conditions as syndicate bankers said there was no good reason for borrowers to delay issuance plans.

Panamanian lender Global Bank saw its new five year bonds trade up 50 cents on Friday as an improved credit profile allows the bank to buy back covered bonds using senior unsecured debt.

Panama-based BAC International Bank is looking to Asia for a $75m three year borrowing, via two lead banks.

Almost 72% of noteholders have participated early in the Panamanian covered bond lender’s tender offer.

CFE provided a strong base for fellow Mexican quasi-sovereign Nacional Financiera to issue as soon as next week after selling a long 10 year bond on Tuesday that tightened 10bp-12bp in the two days after pricing.

Bolivia-headquartered multilateral lender Fonplata could issue a debut bond in 2018 after securing a capital increase from its five members earlier this year, its executive president Juan Notaro told GlobalCapital.

Political wrangling on both sides of the Atlantic this week produced contrasting fortunes for two currencies in futures markets, with the Mexican peso receiving a boost and the British pound slumping to some of its worst ever levels against the US dollar.

Bermuda’s first bond in three years traded up on Wednesday despite a mixed tone in Latin American credit markets.

The expected closing date of a loan to finance a 379 mile transmission line in Chile has been pushed back as negotiations over interest rate swap provisions continue.

Lat Am bond bankers said that Donald Trump’s floundering campaign to become US president could help Mexican borrowers as utility Comisión Federal de Electricidad (CFE) returned to bond markets with a 10 year benchmark.

Venezuelan state oil company PDVSA’s most recent attempt to exchange short-dated bonds has proven so popular that it has made the deal impossible, according to investors.

Mexican peso futures surged on Monday following the second US presidential debate, rising to their highest level in almost a month as Republican candidate Donald Trump failed to knock a dent in Hillary Clinton’s polls lead.