South America
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With a four hour presentation, and after two years of broken promises, Venezuelan president Nicolás Maduro finally announced economic reforms on Wednesday. But although bonds rallied slightly, analysts saw the measures as too little, too late. -
Santander’s Chilean arm has launched a tender offer for up to $500m on its 3.875% fixed rate 2022s and its floating rate notes due 2018.
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A strong performance in Brazil’s bond curve on Wednesday underlined how unsurprised bond investors were to see Latin America’s largest sovereign receive yet another rating downgrade.
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Santander’s Chilean arm has launched a tender offer for up to $500m on its 3.875% fixed rate 2022s and its floating rate notes due 2018.
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Colombia’s sovereign bonds closed tighter on the day on Tuesday despite lower oil prices driving Standard & Poor’s to place the government’s BBB credit rating on negative outlook.
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Argentina may be able to access international capital markets even if US creditors continue to reject restructuring proposals, said analysts this week.
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Dollar bonds from Latin America remained elusive this week as global market turmoil kept borrowers on the sidelines.
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Energy investor EIG has extended the deadline for its tender offer on the outstanding senior notes of troubled Colombian-Canadian oil firm Pacific Exploration & Production after receiving a lacklustre response from bondholders.
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Argentina may be able to access international capital markets even if US creditors continue to reject restructuring proposals, according to strategists at Barclays.
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Markit is preparing to launch what it said will be the first tradable emerging markets interest rate swap index.
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The pain continued for the Brazilian steel sector on Friday as leading producer Gerdau suffered the loss of its first investment grade rating.
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Argentina came a step closer to regaining capital markets access this week with the announcement of a first settlement with holders of its default debt. Analysts warned, however, that a rapid resolution to negotiations with the remaining holdouts is unlikely.
