South America

Chilean oil and gas company GeoPark will look to sell new 144A/Reg S bonds to fund the buy-back of all its $300m 7.5% notes due in 2020.

Just three months after its first ever nominal global peso bond, Uruguay plans to return to debt markets on Thursday for a new peso-denominated note due March 2028.

As its peer Suzano sold $400m of 10 and 30 year bonds on Tuesday, Brazilian pulp producer Klabin announced plans for its first international bond deal in over four years.

Potential first-time issuer the Province of Jujuy could become the second Argentine green bond issuer after mandating two banks for a fixed income investor roadshow.

Pulp and paper producer Suzano Papel e Celulose reopened its 10 and 30 year bonds to the tune of $400m in total on Tuesday, sneaking into the market with a drive-by trade ahead of a long line of Latin America issuers that are meeting investors this week.

Empresa Nacional del Petróleo (Enap), the state-owned Chilean oil company, is looking to issue its first bond in a year shortly after escaping negative rating actions despite several downgrades to the sovereign’s rating.

Rodrigo Valdés, who was finance minister of Chile since May 2015, has resigned from his post over policy differences with the government.

Two Latin American companies announced roadshows this week as the new issue markets finally gave an indication that banker predictions of a hectic September could come true.

Prices in Venezuela and PDVSA bonds remained stable in the secondary markets this week, despite US sanctions on new debt issuance, as bondholders appear none the wiser as to the next step in the country’s economic crisis.

Brazilian mining giant Vale is looking to make the most of a better than expected cash position to redeem its 5.625% 2019s and buy back 4.625% 2020s through a tender offer.

Fitch downgraded Venezuela by three notches on Wednesday, saying that the imposition of US government sanctions on the country further reduced its financing options.

Peruvian plastic packaging company San Miguel Industrias is looking to issue new debt to refinance its only existing international bonds, which mature in 2020.