South America

Peru continued to chip away at its dollar debt on Wednesday with a nuevo sol-denominated 12 year bond, the new money component of which will be used to finance a cash tender for dollar bonds.

Bank of America Merrill Lynch has hired former Credit Suisse fixed income sales banker Jose Hernandez-Ortiz as senior vice-president on its EM Lat Am solutions desk, GlobalCapital understands.

Venezuelan state oil giant PDVSA is considering sweetening its exchange offer to bondholders in an effort to push out debt maturities, after last week’s debt swap proposal received little traction.

Brazilian cement company Votorantim Cimentos (VotoCim) began meeting fixed income investors on Thursday ahead of a potential bond issue that will be used to buy back one or two existing euro-denominated notes.

The Republic of Argentina is set to continue its huge year of bond issuance with its first euro-denominated trade since its 2001 default. The announcement comes after the finance ministry said it would need to raise up to $15bn of international debt next year.

New funding possibilities in the Swiss franc bond market for lower rated issuers have been opened up by a ground-breaking Sfr300m issue for YPF, the Argentine state oil company, writes Silas Brown.

Bankers said that the long list of Latin American borrowers getting ready to issue should now have a clear path to market after the US Federal Reserve left interest rates unchanged — as many had expected.

Argentina will meet investors in Europe next week ahead of a potential euro-denominated bond issue that would be the first from the sovereign since its 2001 default.

Brazilian cement company Votorantim Cimentos (VotoCim) will begin meeting fixed income investors on Thursday ahead of a potential bond issue that would be used to buy back up to two existing euro-denominated notes.

The municipality of Córdoba, the second largest city in Argentina, has mandated Santander to manage a roadshow ahead of a planned international bond debut.

Banco CorpBanca Colombia is holding a roadshow in Taiwan alongside the US for a $200m two year syndicated loan.

YPF, the B3/B rated oil company that was nationalised by the Argentine government just four years ago, took the Swiss franc market into what one syndicate banker called “unchartered territory” with a three year deal on Friday.