Latin America

Mexican real estate investment trust Fibra Uno and Colombian state-owned oil company Ecopetrol reopened existing dollar notes on Wednesday to take advantage of euphoric conditions in Lat Am bond markets.

Pay TV and broadband provider Cablevision sold the first true corporate bond from Argentina since the sovereign exited default in April, raising $500m on the same day the Province of Buenos Aires hit the market for the second time this year.

Mexican cement producer Cemex sold €400m of euro denominated bonds on Wednesday as the company’s liability management policy brought it popularity with fixed income investors.

Mexican cement manufacturer Cemex on Wednesday followed in fellow high yield issuer Braas Monier’s tracks with a significant tightening in pricing on its offer.

Latin America DCM bankers said that Vale had timed its return to bond markets to perfection after the Brazilian mining giant pounced on the huge rally in Lat Am credit that followed disappointing US non-farm payroll on Friday.

Mexico is likely to become the first Latin America sovereign to issue a Samurai bond this week after tightening guidance on a three and five year deal.

Industrial conglomerate Cosan will be hoping market conditions do not turn against it for a third time after it launched a tender offer and announced investor meetings ahead of a possible new bond.

Mexican real estate company Grupo GICSA is to meet investors this week ahead of a planned $300m debut 144A/Reg S unsecured bond issue.

The Province of Córboda sold $725m of five year bonds on Friday after tightening pricing by three eighths versus initial price thoughts, making it the tightest new issue from an Argentine province this year.

The Argentine province of Córdoba is looking to sell a five year bond inside its provincial peers and only just wide of the City of Buenos Aires after announcing initial price thoughts of mid 7% for a new five year dollar benchmark.

Brazilian state owned oil company Petrobras has intensified its efforts to persuade holders of its 8.375% 2018s to part with their paper, increasing the price it is willing to pay for the notes from 107.875 to 110.

Brazilian state owned oil company Petrobras has intensified its efforts to persuade holders of its 8.375% 2018s to part with their paper, increasing the price it is willing to pay for the notes from 107.875 to 110.