South America

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.

Argentina’s second most populated province raised $450m in international bond markets on Thursday in a deal that bankers away from the trade viewed as coming tighter than expectations.

Argentine energy holding company Pampa Energía said on Thursday that it was delaying a planned peso-linked bond sale, as Lat Am DCM bankers said that caution was the most sensible path for the borrower.

Argentina’s largest private energy company Pampa Energía wrapped up investor meetings with a lunch in New York on Wednesday but is yet to issue initial price thoughts on a planned fixed rate peso-linked international bond.