South America

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.

Peru will meet fixed income investors in the US on Tuesday and Wednesday as the new second best rated sovereign in Latin America prepares a dual currency bond offering that would include its first visit to dollar markets since 2015.

Uruguay-based shipping and logistics firm Navios South American Logistics was the only Latin American borrower on a roadshow this week but debt capital markets bankers hope that a benevolent rates environment may cajole nervous issuers into primary markets.

The chief financial officer of Avianca Holdings told GlobalCapital that he is in near daily discussions with export credit agencies (ECAs) to resolve two separate issues and thus allow the Colombian airline to return to bond markets to refinance a $550m bond maturing in May 2020.

The chief financial officer of Avianca Holdings told GlobalCapital that he is in near daily discussions with export credit agencies (ECAs) to resolve two separate issues and thus allow the Colombian airline to return to bond markets to refinance a $550m bond maturing in May 2020.

Dennis Eisele will become Credit Suisse’s head of Latin American debt capital markets in August after he ended a 19 year stint Deutsche Bank, according to an internal memo seen by GlobalCapital.

Chile is looking to become the first sovereign from Latin America to issue a green bond, finance minister Felipe Larraín said on May 30.

Brazilian meatpacker Marfrig will repurchase more than half of its $1bn 2023s as well as another slither of its highest coupon bond after wrapping up a tender offer, the company said on Tuesday.

Cielo, the largest merchant acquiring and payment processing company in Brazil, is looking to raise a new domestic bond to finance the buy-back of a portion of its only international bond.

Holding company Ultrapar, one of the five largest conglomerates in Brazil, will meet bond investors after the long weekend in the US as it looks to test Lat Am high yield appetite.

Gran Tierra Energy, the Canada-listed oil and gas company that mostly operates in Colombia, ventured into bond markets for the second time this week to sell $300m of debt at a pick-up to its existing notes.