South America
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Pampa Energía, the fast growing Argentine energy company, is looking to sell $500m of convertible bonds in an extremely rare structure for a Latin American issuer. -
Less than a month after it removed the negative outlook on Brazil’s Ba2 rating, Moody’s has edged state-owned oil giant Petrobras closer to the double-B territory it occupies with other rating agencies.
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Brazilian energy company Petrobras has kicked off global syndication for a $1bn facility, which it is borrowing through its overseas arm Petrobras Netherlands.
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After a glut of provincial supply, investors were treated to a debut Argentine corporate this week, as three other Latin American corporates brought deals.
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Argentinian supply resumed on Wednesday as Tarjeta Naranja and Province of Tierra del Fuego both kicked off pricing on new dollar deals.
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Further dollar issuance from Argentina could emerge as early as today after two borrowers from the country wrapped up roadshows on Tuesday.
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Argentina’s second smallest province is readying a dollar denominated bond, looking to become the 13th sub-sovereign authority to issue since the government exited default a year ago.
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The largest McDonald’s franchise operator in the world attracted a super-sized $2bn of demand for a deal of just $265m on Thursday as investors said the allocation bun fight left them wanting more Big Mac bonds.
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Chilean-Brazilian Latam Airlines is likely to be at the centre of a rush of corporate bond supply from Latin America next week after Standard & Poor’s praised the company’s cost-cutting efforts.
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Colombia-headquartered lender GNB Sudameris returned to bond markets after a four year absence on Wednesday, tightening pricing on a 10 year non-call five tier two bond.
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Chilean pulp company Empresas CMPC could look to issue its first international bond in two and a half years this week after wrapping up investor meetings on Wednesday.
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Generación Mediterránea, a subsidiary of Argentine electricity generator Grupo Albanesi, has approved a $100m bond issue that it may carry out in international markets.
