South America

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

The Province of Buenos Aires tapped its existing 2019s and 2027s for a total of $750m on Friday to take advantage of still favourable market conditions as syndicate bankers said there was no good reason for borrowers to delay issuance plans.

The expected closing date of a loan to finance a 379 mile transmission line in Chile has been pushed back as negotiations over interest rate swap provisions continue.

trueEX, the interest rate swap trading platform, claims to be the first swap execution facility to execute dealer to client Brazilian real interest rate swaps.

The vice-president of the New Development Bank, Paulo Nogueira Batista Junior, tells GlobalMarkets how his institution is lending on projects and issuing green bonds in line with the increasing concern with environmental issues

US based bond investors said that Argentina’s first euro-denominated bond issue for 15 years came too tight for them, as bankers said this was likely to be exactly what the sovereign had been looking for. However, the level also looked tight for yield-hungry European accounts, with the bonds trading down around a point on Thursday.

Chile-based airline LATAM announced plans to raise $500m of bonds later this month after mandating six banks to arrange a roadshow and tender offer for existing notes.

Argentine mortgage lender Banco Hipotecario announced plans to raise peso-linked bonds on Wednesday, in the second local currency transaction from the country since the sovereign exited default in April.

Argentina took a further step in its reintegration to global markets on Wednesday, selling €2.5bn of euro-denominated bonds for the first time in 15 years.

A report from American think tank Atlantic Council is calling for China and Latin America to take better advantage of their trading links and improve the usage of renminbi on the continent.

Argentina presented investors with a pricing conundrum on Wednesday when the sovereign came to market with its first euro-denominated deal since its 2001 default.

After a slow start to the week, emerging market investors were offered a smorgasbord of options as borrowers from four continents and across the credit spectrum launched bonds in dollars and euros.