Mexico

Mexican non-bank lender Unifin Financiera is plotting a subordinated perpetual deal, according to bond market sources, after Peru’s Interbank became the latest Latin American financial name to issue on Wednesday.

Bankers following Mexico’s second trade in less than a week said that the sovereign had managed to price its euro deal impressively tight to its dollar curve as the government wrapped up its funding needs for the year.

The United Mexican States has released price guidance on its first euro bond for over a year.

The head of Mexico’s public credit office told GlobalCapital that the Latin American sovereign had been particularly keen to set a strong precedent for the country’s issuers after it kicked off a potentially volatile year with a $3.2bn blowout dual-tranche.

Mexico returned to its habitual role of opening the Latin American bond markets for the year on Wednesday with a $2.6bn trade including a tap of its 2048s to make the most of an exceptionally flat curve.

Bankers and investors covering Latin America were grateful this week for the end of a hectic year in which unprecedented levels of issuance have sprung from the region, with strong conditions set to continue in 2018.

Mexican payroll lender Alpha Holdings sold its inaugural cross-border bond deal on Tuesday, becoming the latest in a growing group of Lat Am non-bank lenders to have issued internationally.

Mexican payroll lender Alpha Holdings sold its inaugural cross-border bond deal on Tuesday though it was unable to tighten beyond initial price thoughts.

Alpha Holdings, the Mexico-headquartered non-bank lender, will look to price its first ever international bond on Tuesday after setting initial price thoughts on Monday.

Mexico’s largest private sector energy company, IEnova, was overwhelmed with orders on Thursday as bond investors welcomed the chance to pick up some new paper not from Brazil or Argentina.

Alpha Holding, which specialises in consumer and SME lending in Mexico and Colombia, has named leads for a dollar bond.

As two financial market favourites made important strides in Mexican public life this week, bond investors in Europe gave an extraordinary welcome to high yield cement company Cemex on Tuesday.