South America

Mexican polyethylene producer Braskem Idesa clinched a debut bond issue on Monday, as potential positive credit triggers and highly attractive pricing outweighed doubts regarding a supply contract with Pemex.

Brazilian investment bank BTG Pactual will begin fixed income investor meetings on Wednesday ahead of a proposed senior unsecured bond that market participants expect will be well received.

Chilean mobile phone operator WOM approached bond markets for the first time on Thursday seeking $450m of senior unsecured notes to refinance its existing capital structure and complete a dividend recap.

Two days after canceling a tender offer it had planned to finance with a private placement (PP), Brazilian engineering and construction firm Andrade Gutierrez has launched an exchange offer seeking a similar result.

It is less than two months since one of the most serious constitutional crises in Peru’s history, yet on Thursday the sovereign sold Sl10bn ($2.96bn) of new local currency debt at record low yields.

Two days after cancelling a tender offer that it had planned to finance with a private placement, Brazilian engineering and construction firm Andrade Gutierrez has launched an exchange offer seeking a similar result.

Brazilian engineering and construction firm Andrade Gutierrez has cancelled the buy-back of its bond maturing in 2021 after failing to sell a new five year bond, saying it expects to announce a revised transaction soon.

Some Brazilian bankers may be dumbfounded that their country and its highly unpopular president is considered a safe haven, but hope that Latin America’s sleeping giant is on the cusp of an upswing is driving demand for the country’s issuers amid social unrest elsewhere in the continent.

South American development bank Corporación Andina de Fomento said that 61% of orders for its inaugural green bond in public markets, issued on Wednesday, had come from environmental, social and governance (ESG) and green portfolios.

South American development bank Corporación Andina de Fomento (CAF) said that 61% of orders for its inaugural green bond in public markets, issued on Wednesday, had come from ESG and green portfolios as the issuer raised €750m of euros.

Brazilian lender Itaú raised $750m of tier two notes on Wednesday, its first ever issue of Basel III-compliant tier two bonds in the international market.

Brazilian steel producer Gerdau could return to the international bond market this week for the first time in over two years, looking to take advantage of strong performance in its bonds and positive sentiment surrounding Brazil.