South America
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Argentina’s southernmost province Tierra del Fuego could look to meet fixed income investors in late October, defying the expectations of several Lat Am bankers and investors, as it considers raising $150m of bonds. -
Lat Am new issue activity could hardly have had a better start to September as Minerva Foods raised $1bn of 10 year bonds at a flat to negative new issue concession. Strong flows into EM funds are creating conditions that are hugely attractive for borrowers.
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Brazilian telecoms giant Oi’s bonds fell in secondary markets after the company filed a restructuring proposal at a Rio de Janeiro court on Monday night.
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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.
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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.
