South America

A pair of emerging market banks placed MTNs this week. In Australian dollars, Banco del Estado de Chile printed a 10 year note on Tuesday, while on Monday, Qatar National bank placed short end dollar paper.

Italian-owned solar energy company Ergon Peru is looking to raise a 15 year green bond in dollars and has earned top marks from Standard & Poor’s on its green evaluation, the rating agency said.

Chile may be an expensive buy for many EM investors, but the country’s status as the top-rated Latin American sovereign is making it attractive for environmental, social and governance-focused investors, said debt capital markets bankers, after the government sold its second green bond in two weeks.

South American development bank CAF (Corporación Andina de Fomento) has raised $140m of 10 year debt via a private placement that will be used to fund education projects, GlobalCapital understands.

State-owned Argentine oil and gas company YPF became the first borrower from the country to tap international bond markets in 14 months on Monday. Yet despite a healthy reception from investors, bankers do not expect copycat trades from other Argentine issuers.

Cielo, the largest merchant acquiring and payment processing company in Brazil, on Friday wrapped up a consent solicitation and bond buy-back for its global 2022s that will effectively split the note in two.

Chile’s head of international finance told GlobalCapital that issuing a green bond had helped the sovereign attract new investors used to buying lower yielding paper, making the deal a win-win for both borrower and buy side. It is planning to bring its next green deal in euros.

Chile’s head of international finance told GlobalCapital that issuing a green bond had helped the sovereign attract new investors used to buying lower yielding paper, making the deal a win-win for both borrower and buy-side. It is planning to bring its next green deal in euros

Corporación Andina de Fomento (CAF) will sell its first public green bond in the second half of this year in euros, the development bank’s head of funding said at Euromoney's Global Borrowers and Investors Forum in London on Tuesday.

Chile sold a $1.418bn bond on Monday, in the process becoming the first sovereign in Latin America to issue a green bond. The sovereign will look to repeat the feat in the euro market in the coming weeks.

Peru’s return to dollar bond markets after four years on Thursday saw it clinch its lowest ever yield and price flat to or even inside its better rated neighbour Chile. Yet so sought after is Peru’s hard currency paper that the government is having a tough time persuading bondholders to let go.

Peru returned to bond markets on Thursday with a dual currency deal that included a rare dollar issue that some on the deal reckoned had been priced the country’s better rated peer, Chile.