South America

Latin American oil and gas company GeoPark sold $425m of seven year non-call four notes last week, with the first leg of a concurrent tender offer due to expire on Tuesday.

More than 65% of the holders of Brazilian mining giant Vale’s 4.625% 2020s agreed to sell their bonds before last week’s early-bird tender deadline.

After Uruguay’s success last week, pan-EM mobile and cable company Millicom raised hopes on Monday that more local currency supply would be on the way.

Uruguay’s head of sovereign debt management said that the sovereign was committed to developing its global nominal peso-denominated bond curve in an interview with GlobalCapital about the country’s latest local currency issue last week.

Argentina’s most north-western province raised $210m of green bonds due in 2022 on Wednesday, as bankers say activity is ready to recommence in earnest.

Peruvian electricity generator Fenix Power Perú, which is operated by well-known Chilean firm and bond issuer Colbún, sold its first ever international bond in a busy day for Lat Am markets on Wednesday.

Argentina’s most north-western province became the 15th regional or municipal government in the country to issue international bonds on Wednesday as Jujuy raised $210m of green bonds due in 2022.

Klabin became the third Brazil pulp and paper producer to sell green bonds on Tuesday, squeezing pricing more than 40bp from initial price thoughts.

Peruvian plastic packaging company San Miguel Industrias sold seven year bonds below 5% on Tuesday, with the yield achieved by the Peruvian company particularly impressing bankers.

Emerging markets cable and mobile group Millicom International Cellular will look to price a $500m 10 year non-call five bond on Wednesday, according to bankers close to the deal.

A hefty back-up in US Treasuries did not stop Chilean oil company Enap clinching its longest ever bond issue on Monday, offering what bankers off the deal saw as a single digit new issue premium.

Peruvian plastic packaging company San Miguel Industrias could return to bond markets on Tuesday after announcing initial price thoughts for a new dollar denominated deal.