Latin America

Argentina may be able to access international capital markets even if US creditors continue to reject restructuring proposals, said analysts this week.

Dollar bonds from Latin America remained elusive this week as global market turmoil kept borrowers on the sidelines.

Energy investor EIG has extended the deadline for its tender offer on the outstanding senior notes of troubled Colombian-Canadian oil firm Pacific Exploration & Production after receiving a lacklustre response from bondholders.

Argentina may be able to access international capital markets even if US creditors continue to reject restructuring proposals, according to strategists at Barclays.

Markit is preparing to launch what it said will be the first tradable emerging markets interest rate swap index.

The pain continued for the Brazilian steel sector on Friday as leading producer Gerdau suffered the loss of its first investment grade rating.

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.

Progress has been made in negotiations between the Argentinian government and US holdout creditors, court-appointed mediator Daniel Pollack said late Wednesday.

Some medium term note investors believe the Mexican peso may now be undervalued, a pair of deals in the currency suggested this week.

Medium term note investors believe the Mexican peso may be undervalued, as they took punts with a series of deals in the currency.

Steelmaker Companhia Siderurgica Nacional (CSN) could be the next major Brazilian corporate to be forced into a debt restructuring, Fitch Ratings has warned.