South America

Argentine candy maker Arcor is looking to tap its existing dollar-denominated 2023s as soon as Tuesday after mandating the same three banks that ran its original bond issue to manage the deal.

South American sovereign Uruguay is likely to be the next Latin American issuer to tap debt markets as it wraps up an international roadshow ahead of a planned Uruguayan peso-denominated fixed rate bond issue.

Argentina is looking to issue euro denominated bonds towards the end of this month, finance minister Luis Caputo said on Wednesday.

South American sovereign Argentina is looking to issue euro denominated bonds towards the end of this month, finance minister Luis Caputo said on Wednesday.

Investors in and brokers of Venezuelan bonds say that the government is looking to sell up to $5bn of 6.5% bonds due 2036 that were issued at the end of last year but have remained in the hands of the central bank.

Peruvian state-owned oil company Petroperu will issue bonds maturing in between 15 and 30 years, said Standard & Poor’s, as the company meets investors.

South American sovereign Uruguay is meeting international investors ahead of a planned Uruguayan peso-denominated fixed rate bond issue.

Goldman Sachs sparked the ire of Venezuelan opposition supporters and several bond investors this week as it bought $2.8bn of PDVSA bonds at a hefty discount that put the yield at 40%.

Moody’s followed Standard & Poor’s in placing Brazil’s credit rating on negative outlook on Friday, but both agencies have reaffirmed Petrobras’ rating as analysts say they expect the state-owned oil company to gain ground on its sovereign parent.

The Province of Buenos Aires gave a taste of the possibilities available in Argentina’s domestic market on Tuesday with an innovative peso bond targeted at international investors that left the province’s undersecretary of finance more than satisfied.

LatAm bond market participants said contagion from the latest Brazilian corruption crisis had dissipated this week as new issuance returned to the region and spreads recovered within and outside Brazil.

The Province of Buenos Aires showed the resilience of demand for Argentina as it sold a $950m equivalent peso denominated bond mainly to international buyers the day after the currency hit its all-time weakest level against the US dollar.