South America

Colombo-Canadian oil company Frontera Energy managed to persuade 91.16% of its creditors to approve an amendment in its bond indenture that will allow it to make larger payments to shareholders.

Some Latin American DCM bankers think the year is over for new issuance, and several are indeed wishing it already were. Though much of what put the brakes on in Lat Am this year will continue to affect the market in 2019, bond bankers should find reasons to believe January will be better.

Colombian oil company Frontera Energy is increasing the reward bondholders will earn if they give it permission to make more payments to shareholders.

Some Latin American DCM bankers think the year is over for new issuance, and several are indeed wishing it already were. Although much of what put the brakes on in Lat Am this year will continue to affect the market in 2019, bond bankers should find reasons to believe January will be better.

Latin American DCM bankers say that continued debt buy-backs by Brazilian companies are creating strong technicals that should put the market in good stead for next year.

South American development bank Corporación Andina de Fomento (CAF) sold its first public dollar deal in a year on Thursday, raising $750m despite tough market conditions.

Colombo-Canadian oil and gas company Frontera Energy’s attempt to grant itself the power to make larger payments to shareholders is an aggressive move, said bankers as Fitch highlighted it would be a credit negative.

South American development bank Corporación Andina de Fomento (CAF) is due to price to a first public dollar deal in a year on Thursday, having set price talk on Wednesday.

Colombo-Canadian oil and gas company Frontera Energy’s attempt to grant itself the power to make larger payments to shareholders is an aggressive move, said bankers as Fitch highlighted it would be a credit negative.

Just over 100 days since Ivan Duque took office as Colombia’s president, the South American country has appointed a new head of public credit and national treasury.

Frontera Energy Corporation, the Canada-listed Colombian oil and gas company, is asking bondholders permission to make payments otherwise forbidden by the terms of its outstanding debt.

Brazilian mining giant Vale has launched its third public tender offer for outstanding international bonds, seeking to continue to cut its debt by buying back $1bn of notes.