Santander

A quiet first quarter of FIG issuance from Latin America has drawn the region’s banks into a bond market that has delivered tightly priced bonds, said bankers. Santander Chile and Brazil’s BNDES benefited this week, with BNDES’s deal of particular encouragement to other Brazilian bank issuers, according to DCM bankers in the country.

The fastest book build one syndicate banker has ever seen helped Endesa Chile to a first international bond in nearly two decades on Thursday as a universal tightening in LatAm credit entices borrowers from the region into the market at a rapid rate.

Carl Bassili has joined Société Générale as a senior coverage banker in charge of global relationships and strategic advisory for a portfolio of large French corporates.

The heat in the LatAm bond market crept up a notch after Brazil’s Gerdau captured a 12 times subscribed book for its latest bond on and Abengoa’s deal shot up a remarkable five points in secondary the day after pricing.

PSA Peugeot Citroën has signed a €3bn dual tranche loan to refinance early a loan maturing in 2015.

A quiet first quarter of FIG issuance from Latin America has urged the region’s banks into a bond market that has delivered tightly priced bonds, said bankers. Santander Chile was the latest to benefit, selling a $500m three year FRN on Tuesday.

Latin American bond bankers said the blow-out 10 year issue printed by meatpacker JBS on Monday showed several Brazilian issuers were more comfortable with issuing conditions since the sovereign's downgrade by Standard & Poor's last week.

The second quarter of the year is looking set for some major landmarks in peripheral eurozone sovereigns’ journey back to market normality, after Portugal outlined details for a return to bond auctions and talk of an imminent benchmark from Greece reached fevered levels.

Banco Popular Español (BPE) issued the third Cédulas of 2014 and at €1bn, the issuer’s largest covered bond in three years. Though it was by no means the most attractive spread this year it was less than half the average of its previous three deals.

Property company British Land has raised almost £1bn of debt with a revolving credit facility and a private placement, bringing the total debt it has raised in the last 12 months to £1.5bn.

Latin American bond bankers said the blowout 10 year issue printed by meatpacker JBS on Monday showed several Brazilian issuers were more comfortable with issuing conditions since the sovereign's downgrade by Standard & Poor's last week.

Every Japanese investor that Brazil met on a roadshow in December asked the sovereign to issue yen bonds, said Paulo Valle, Brazil’s deputy treasury secretary, in the wake of the sovereign’s first euro bond issue since 2006.