South America

Bolivia’s dollar bonds traded lower for a second consecutive day on Tuesday as left-wing former finance minister Luis Arce looks set to assume the presidency. However, some argue that Arce is the best candidate for market stability, at least in the short term.

Brazilian foods company BRF increased the size of a tap of its recently issued 2050 bonds on Monday, issuing at exactly the same reoffer level as a month ago.

Frigorífico Concepción, the Paraguayan beef exporter, could return to bond markets this week with a tap of its 10.25% senior secured notes maturing in January 2025.

Latin America’s bond bankers said that the primary markets remain open, but investors will see limited new paper after Petrobras sold its smallest bond in several years this week.

Brazilian state-owned oil company Petrobras returned to bond markets on Tuesday as part of a debt reducing liability management exercise as the issuer continues to lower its bond outstandings.

Colombian natural gas distributor Promigas could return to bond markets a year after its debut as it mandated banks for a reopening of its 2029s.

Banco Hipotecario, the Argentine bank focussed on mortgage and consumer loans, will swap nearly 47% of its dollar bonds maturing on November 30 for new 2025s and cash. Fitch says it understands the central bank — which in September announced restrictions on hard currency debt refinancing — has approved the deal and that Hipotecario will be able to access a sufficient amount of dollars to carry out the swap.

Chilean copper mining company Antofagasta, the longest continuously listed company on the London Stock Exchange, clinched its first international bond on Thursday as Latin American bond markets continued their recovery from recent wobbles.

Chilean energy company Empresa Eléctrica Angamos will repurchase nearly 80% of its bonds due 2029 after achieving strong participation in a tender offer despite the complaints of one bondholder advocacy group.

Chilean energy company Empresa Eléctrica Angamos will repurchase nearly 80% of its bonds due 2029 after achieving strong participation in a tender offer despite the complaints of one bondholder advocacy group.

Antofagasta plc, the Chilean copper miner that is the longest continuously listed company on the London Stock Exchange, began investor calls on Monday as it turned to bond markets for the first time.

Business services company Atento became the fourth Latin American credit in recent weeks to cancel borrowing plans on Friday, blaming “unfavourable” market conditions as it postponed a proposed liability management exercise.