South America
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Emerging market economic growth managed to hang on to much of its momentum over August, according to the latest release of the IHS Markit Emerging Market Composite PMI index. -
Three Latin American corporates announced roadshow plans on Wednesday as appetite for EM credit shows no sign of softening.
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Brazilian meatpacker Minerva announced initial price thoughts of 7% on Wednesday afternoon for a benchmark sized 10 year non-call five deal to fund a tender offer.
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Gulf supply remained the dominant theme in CEEMEA bonds again this week as markets reopened in buoyant mood after Monday’s US holiday.
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Brazilian meatpacker Minerva will opt for a 10 year maturity when it returns to bond markets, according to Standard & Poor’s.
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Telecoms giant Oi filed a restructuring proposal at a Rio de Janeiro court on Monday night as it seeks consensus on the largest bankruptcy in Brazilian history.
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Chilean-headquartered wood products company Masisa has signed a five year loan from four lenders.
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Chilean lender Banco de Chile is to issue $100m of senior unsecured floating rate notes, according to Moody’s and Standard & Poor’s.
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Pesquera Exalmar, the Peruvian fishmeal farmer, achieved the majority consent from its bondholders this week that it needed to issue a senior secured loan.
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Brazilian meatpacker Minerva should be the first of many Latin American issuers to hit cross-border new issue markets in September, said bankers, as a quiet period of primary activity and continued fund inflows have left investors hungry for paper.
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BTG Pactual has rehired its former head of Lat Am fixed income syndicate just eight months after letting her go.
