South America

Peruvian lender Interbank issued $400m of bonds to buy back existing debt on Wednesday, and may also price global local currency notes.

Uruguay added $750m to bonds maturing in 2055 on Tuesday and looks set to increase its 2031s on Wednesday as part of a liability management exercise.

Corporación Nacional del Cobre de Chile (Codelco), the world’s largest copper producer, extended the run of well received long dated bonds from Latin American issuers as it notched $2bn of new funding in a dual tranche offering.

Brazilian food producer BRF will look to buy back more old bonds than initially intended after selling a larger than expected long 10 year note last week.

Brazilian food group BRF priced a new larger than expected 10 year at a tighter than excepted yield as Lat Am’s strong September continued apace after a one day break for the US Federal Reserve meeting on Wednesday.

A change in CEO slightly delayed Banco Votorantim’s return to bond markets but the Brazilian bank had no trouble finding demand when it announced a dual tranche on Tuesday nearly two weeks after the end of its roadshow.

Brazilian state-owned oil and gas giant Petrobras issued a new long 10 year of more than $4bn via an exchange offer on Monday and the note immediately jumped above par.

Brazilian lender Banco Votorantim found ample demand for a dual tranche issue on Tuesday after waiting nearly two weeks from the end of its roadshow to announce a deal. Compatriot food company BRF could now bring a deal a little quicker having concluded its own investor meetings.

Brazilian state-owned oil and gas giant Petrobras will issue a new long 10 year of over $4bn after existing bondholders agreed to participate in an exchange offer that will see them swap old notes for a combination of cash and new paper.

Avianca took a step closer to drastically improving its liquidity profile after 86.4% of its bondholders agreed to participate in a bond exchange that could unlock up to $250m of new funding from United Airlines and the Colombian firm’s second largest shareholder, Kingsland Holdings.

The same capital controls that have brought some calm to Argentine bond markets could lead to the exclusion of certain government notes from some JP Morgan indices, said the US bank on Tuesday.

Brazilian oil giant Petrobras will continue to push out its debt maturities and reduce its outstanding stock of bonds with an exchange and tender offer that includes retiring existing notes using cash.