Mexico

Mexican polyethylene producer Braskem Idesa’s 2029s were the worst performing bonds in emerging markets on Wednesday after the country's president Andrés Manuel López Obrador said he was analysing whether he could break a contract under which Pemex supplies the company with ethane.

The Mexican finance ministry will visit fixed income investors in Europe next week to present the framework under which it hopes to issue bonds designed to finance expenditure in line with the United Nations’ Sustainable Development Goals.

Mexico’s second largest lender Banco Mercantil del Norte (Banorte) returned to the Swiss franc market for the fourth time in under two years on Monday.

Mexican conglomerate Fomento Económico Mexicano (Femsa) on Friday tapped its 2050s, first issued nearly a month ago, to demonstrate how a softening of global risk appetite since then, combined with a strong technical picture in EM, is making markets attractive to both buyers and issuers.

Mexican leasing company Operadora de Servicios Mega (Grupo Mega) became the latest Latin American high yield company to gain impressive pricing traction on Thursday, as it offered strong evidence that the region’s bond buyers are nonplussed by the coronavirus epidemic.

Mexican state oil company Pemex will increase the size of its most recently issued bonds by more than initially planned after a debt exchange was comfortably oversubscribed.

Mexico’s largest airline, Aeromexico, achieved significant price tightening on a five year issue as Lat Am bond buyers said the rare luxury of a 7% handle in primary had piqued their interest, despite acknowledging credit challenges.

Latin American bond markets reached record levels of January issuance this week as primary activity ticked over despite the scare about the coronavirus, which the World Health Organisation declared a global emergency on Thursday.

Mexican non-bank lender AlphaCredit became the latest company from Latin America to schedule fixed income investor meetings as bankers say smaller, high yield issuers are likely to dominate forthcoming supply.

Mexican state-owned oil company Pemex will prepay just $62m of two bonds maturing later this year after receiving a tepid response to its tender offer.

Mexico’s largest airline Aeromexico will begin meeting fixed income investors on Monday as it plots what would be its first ever international bond issue.

After Mexican state oil company Pemex paid very little to issue a 40 year bond, rather than a 30 year, on Tuesday, two days later, the Dominican Republic opted for the same rare maturity.