South America

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.

French lender Crédit Agricole has hired Italo Lombardi from Standard Chartered as its Latin America economist and strategist.

Argentine energy holding company Pampa Energía is planning to sell its peso-linked international bond on Wednesday, according to a filing with the local regulator.

Argentina’s second most populated province is preparing its second international bond issue of the year and will begin meeting investors on Monday.

Argentina had market participants choking on their churrasco this week with a century bond that triggered mixed reactions but sent a clear message about the bond market’s extraordinary ability to back any story it likes the sound of. Oliver West reports.

Chile re-opened its domestic 2021s and 2035s on Wednesday as it looks to attract more international investors into its peso-denominated bonds.

It is tale of the haves and have nots in EM this week as Argentina’s surprise 100 year bond received a $10bn book but Nigeria’s diaspora bond underwhelmed and prompted a widening of the sub-Saharan African sector.

Amid light-hearted comments from observers about its patchy debt record, Argentina sent a very serious message to markets on Monday with the first ever 100 year bond issuance from a single-B rated sovereign.

Even after weeks of political crisis, protests across the country, the government’s desperate scrambling for cash and a default on a loan from Russia, Venezuelan bond prices remain principally driven by oil prices.

Bond investors in Latin America are short of ideas as to what could provoke a sell-off that they see as necessary to release steam as borrowers make hay in highly attractive conditions.