South America

A securitization that repackages Paraguayan government infrastructure financing is expected to be priced on Thursday after the bookrunner set initial price thoughts the day before.

Latin America’s best rated sovereign, Chile, will begin investor meetings on Thursday as it plots its third Euroclearable local currency deal.

Just one Latin American issuer has announced bond issuance plans as another day of market volatility had bankers pondering whether the favourable conditions that have prevailed almost uninterrupted since mid-January might be in danger.

Emerging market bankers and investors have been reacting to this week's attempt by the Venezuelan opposition to unseat president Nicolás Maduro, with some worrying that Russia's support for the government once again raises the risk of sanctions against that country.

The risk of a Cristina Fernández de Kirchner winning the presidential election in Argentina has spooked investors, causing the currency to sell off and bond prices to slump. But the weakening economy is bolstering support for president Mauricio Macri’s rivals, causing what investors are calling a “toxic feedback loop”.

A coup attempt in Venezuela has rekindled hopes among investors that president Nicolás Maduro will cede control to the opposition regime. The development drew the spotlight away from Argentina’s spiralling currency.

Argentina’s central bank has abandoned its promise to allow the peso to trade freely within a range and has received approval from the IMF to use its foreign currency reserves to intervene.

Brazilian meatpacker Marfrig will meet US bond investors next week as it looks to take condition of plentiful demand for assets to finance a buy-back of existing bonds.

Latin American bond buyers finally had some proper supply to soak up demand after two weeks without the kind of paper that tends to attract EM investors.

The US business of Brazilian meatpacker JBS gained further traction in bond markets this week as it looked to improved its liquidity position with its second bond issue of the month on Tuesday, part of a liability management exercise.

Santander creates new sales role — Barclays origination banker leaves — Algomi co-founder helps another fintech

Argentina and Turkey are firmly established as volatile names in emerging market credit. Both sovereigns have political and economic issues that place them in the highly vulnerable bracket.