South America

Colombia window manufacturer Tecnoglass began meeting bond buyers on Tuesday ahead of a potential dollar market debut.

Colombia’s second largest lender, Banco de Bogotá, was able to tighten pricing on the tap of its existing tier two bonds by 30bp on October 28 as bankers said the issuer had attempted to generate strong demand with very generous initial price thoughts.

Eastern Argentine province Entre Ríos looks set to continue the run of Argentine provinces tapping international bond markets after announcing a roadshow beginning October 31.

Venezuelan state oil giant PDVSA finally wrapped up an exchange of bonds due 2017 for longer dated paper last Friday, but analysts said that the effect on the company’s credit quality in the medium term was negligible or even negative.

Argentine province Santa Fe’s debut international bond issuance on Tuesday made it the second tightest sub-sovereign name in the Argentine credit spectrum as the region’s low leverage levels allowed it to price just 50bp wide of the City of Buenos Aires.

Argentina’s third largest private sector bank in terms of loan portfolio size, Banco Macro, will begin a roadshow on Wednesday ahead of a potential dollar bond issue.

Venezuelan state oil giant PDVSA finally wrapped up an exchange of its short-dated debt for new notes due 2020 on Friday after accepting tenders of $2.8bn from bondholders.

Peruvian lender Banco de Crédito del Perú (BCP) brought in pricing on a new three year senior unsecured note by more than 30bp from initial price thoughts on Friday as investors rushed into a rare Peruvian corporate new issue.

Argentine oil company Compañía General de Combustibles and lender Banco Macro joined Trinidadian utility name Trinidad Generation Unlimited (TGU) in the Latin America and Caribbean bond pipeline this week as debut issuers looked to take advantage of strong funding conditions.

Electric utility company Enersis Americas received a raucous reception from investors this week as it sold just the third Chilean corporate bond in dollar markets of 2016.

Tanner Servicios Financieros reignited Chilean issuers' involvement in the Swiss franc bond market on Wednesday by issuing a Sfr150m ($151.7m) three year note.

The Argentine province of Santa Fe will begin a roadshow on Wednesday ahead of a much-anticipated international bond market debut.