Latin America
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Peru's finance minister, Alfredo Thorne, will be among the representatives as the country carries out a week-long roadshow starting on Monday ahead of a planned sol-denominated bond issue. -
Some 54 anchor orders of more than $50m each helped Mexican oil company Pemex to raise $4bn of new bonds on Tuesday despite volatility sweeping Lat Am bond markets following a sell-off in US Treasuries.
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Brazilian telecoms company Oi lost its chief financial officer and investor relations head on Monday as bondholders looked unlikely to accept the issuer’s proposed restructuring terms.
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Colombian oil company Pacific Exploration & Production said on Monday that it expects to close a restructuring that would see bondholders and private equity firm Catalyst Capital take control of the firm in the week of October 3.
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Argentina’s southernmost province Tierra del Fuego could look to meet fixed income investors in late October, defying the expectations of several Lat Am bankers and investors, as it considers raising $150m of bonds.
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Lat Am new issue activity could hardly have had a better start to September as Minerva Foods raised $1bn of 10 year bonds at a flat to negative new issue concession. Strong flows into EM funds are creating conditions that are hugely attractive for borrowers.
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Mexico-based lender Banco Inbursa — part of the Carlos Slim empire — began marketing a planned 10 year senior unsecured bond on Thursday as it looks to tap international bond markets for the first time in over two years.
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CME Group has expanded its reach in both Asia and Latin America, with Hong Kong and Mexico recognising the firm as a central counterparty (CCP).
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Brazilian telecoms giant Oi’s bonds fell in secondary markets after the company filed a restructuring proposal at a Rio de Janeiro court on Monday night.
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Emerging market economic growth managed to hang on to much of its momentum over August, according to the latest release of the IHS Markit Emerging Market Composite PMI index.
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Three Latin American corporates announced roadshow plans on Wednesday as appetite for EM credit shows no sign of softening.
