South America
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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. -
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.
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The Brazilian senate’s vote to formally remove president Dilma Rousseff from office had already been priced into bond markets, according to bankers, though the vote appeared to have done no harm to issuance chances as Minerva announced a roadshow on Wednesday.
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Wednesday’s announcement from Colombia’s government that it had successfully concluded peace talks with the FARC guerrilla group after more than 50 years of war comes just as the sovereign lines up a prefinancing issue in dollars.
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Pesquera Exalmar, the Peruvian fishmeal farm, has extended the deadline of a tender offer and consent solicitation on its 7.375% bonds due 2020 from August 19 to August 30 as it seeks bondholder approval for a new senior secured loan.
