Latin America
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The pain continued for the Brazilian steel sector on Friday as leading producer Gerdau suffered the loss of its first investment grade rating.
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Argentina came a step closer to regaining capital markets access this week with the announcement of a first settlement with holders of its default debt. Analysts warned, however, that a rapid resolution to negotiations with the remaining holdouts is unlikely. -
A return of dollar issuance from Latin America edged closer on Thursday as details emerged of planned project bonds from Colombian toll road concessionaire Pacifico 3.
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Progress has been made in negotiations between the Argentinian government and US holdout creditors, court-appointed mediator Daniel Pollack said late Wednesday.
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Some medium term note investors believe the Mexican peso may now be undervalued, a pair of deals in the currency suggested this week.
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Medium term note investors believe the Mexican peso may be undervalued, as they took punts with a series of deals in the currency.
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Steelmaker Companhia Siderurgica Nacional (CSN) could be the next major Brazilian corporate to be forced into a debt restructuring, Fitch Ratings has warned.
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Argentina’s government reopened negotiations with holdout creditors on Monday after securing a $5bn loan from seven global banks last week.
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South American sovereign Uruguay said on Friday that it intends to issue about $1.5bn in international bond markets in 2016 as part of its prefunding policy.
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Latin American debt capital market bankers proclaimed that Pemex had “validated a new reality” for EM commodity credits in the bond markets after the Mexican state owned oil giant issued $5bn at new issue concessions so high that, until recently, they would have been unthinkable.
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trueEX, a fast growing swap execution facility (SEF), has executed the first dealer to client Mexican peso interest rate swaps trades on its platform.
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Automotores Gildemeister, the Chilean car seller, is edging closer to an agreement with its bondholders that would see it emerge from default after more than 90% of bondholders agreed to a distressed exchange.
