South America

Chilean retailer Cencosud’s new 10 year bond drifted wider in secondary markets on Thursday after bankers placed its new issue premium in the single digits.

Bond investors expect Peru to be able to successfully issue in nuevo soles next week as it wraps up investor meetings ahead of a planned Euroclearable local currency deal.

Argentina’s largest province raised €500m of euro-denominated bonds on Thursday after hefty tightening from initial price thoughts.

South American retail giant Cencosud tightened its new $1bn 10 year bond by 40bp from initial price thoughts on Wednesday as it completed a liability management exercise.

Argentina’s largest province has announced initial price thoughts of 6% for a 5.5 year €500m no-grow trade in euros.

Latin American development bank Corporación Andina de Fomento (CAF) raised $1.25bn of three year bonds on Tuesday, with more than half of the orders coming from central banks and official institutions.

South American development bank Corporación Andina de Fomento (CAF) is set to price a dollar-denominated benchmark bond on Tuesday less than two weeks after losing its only negative outlook.

Peru will begin meeting fixed income investors on Tuesday in preparation for a benchmark-sized Peruvian sol-denominated bond of “intermediate to long maturity”, according to a note sent to investors.

In a deathly quiet week for Latin America’s bond markets, the Province of Buenos Aires announced plans for its first euro-denominated bond issue for more than 15 years, as Argentina continued to provide the bulk of the region’s supply.

Argentina’s largest province will begin investor meetings on Friday ahead of a planned euro-denominated bond sale, according to DCM bankers close to the deal.

Argentine electricity utility Transener (Compañía de Transporte de Energía Eléctrica en Alta Tensión) has approved a bond of up to $500m, according to a regulatory filing on Tuesday.

One of Argentina’s strongest corporate bond issuers, Cablevision, signed a preliminary agreement to merge with rival Telecom Argentina over the weekend, and one analyst said it could lead to issuance in the cross-border bond markets.