Latin America

  • SLB momentum in EM triggers debate over pricing innovation

    SLB momentum in EM triggers debate over pricing innovation

    As sustainability-linked bond issuance gains momentum in emerging markets, questions are being asked about the product and its potential for innovation. The next iteration could see a feature already accepted in the loan market but not yet in bonds: a margin step-down.

  • EDC returns to Chilean pesos

    EDC returns to Chilean pesos

    Export Development Canada (EDC) sold the first offshore Chilean peso bond of the year as it dropped into the currency in search of short dated borrowing earlier this week.

  • Oi sells dollars in refi scheme

    Oi sells dollars in refi scheme

    Oi, the Brazilian telecom company, re-entered international debt markets this week to raise almost $1bn of short-dated paper.

  • Plastic fantastic: SMI joins ring of LatAm SLB issuers

    Plastic fantastic: SMI joins ring of LatAm SLB issuers

    Peru-headquartered San Miguel Industrias, known as SMI Group, which produces plastic packaging across Latin America, sold a sustainability-linked bond on Monday. The trade is the latest in a long string of Latin American issuers embracing the innovative format.

  • Panamanian airport lines up LM

    Panamanian airport lines up LM

    Aeropuerto Internacional de Tocumen, the government-owned operator of Panama City airport, is looking to sell new bonds to refinance its existing senior secured notes, the issuer said on Friday.

  • Buenos Aires inches towards drawn out debt restructuring

    Buenos Aires inches towards drawn out debt restructuring

    The Province of Buenos Aires reached a debt restructuring agreement with some but not all of its bondholders last week, leaving observers pondering what was left to resolve a stalemate that has already lasted 15 months.

  • Chile goes big in dollars to take chunk out of funding needs

    Chile goes big in dollars to take chunk out of funding needs

    Having sold €1.75bn ($2.1bn) of social bonds in euros on Wednesday, Chile returned to the dollar market for the fourth time this year on Thursday to print $3.75bn of social bonds across three tranches — the week after it had increased its 2021 funding needs by $8bn.

  • US Treasury rally ‘from the gods’ encourages duration in EM bonds

    US Treasury rally ‘from the gods’ encourages duration in EM bonds

    Long dated issuance returned to EM primary bond markets in force this week as DCM bankers said issuers were seeing the latest fall in US Treasury yields as a sign that they should accelerate funding plans. Although several investors remain cautious on the prospects for rates markets, the weight of cash to be put to work is set to keep funding conditions attractive for EM borrowers, writes Mariam Meskin and Oliver West.

  • Investors calm as Chile extends funding spree with euros, eyes dollars

    Investors calm as Chile extends funding spree with euros, eyes dollars

    Chile began chipping away on Wednesday at the bumper funding needs it announced last week, raising €1.75bn ($2.1bn) in social bonds in the euro market as investors said the government, which still has the lowest debt to GDP ratio in Latin America, has space to print more.

Latin America News Archive
LatAm Letter

 

Our coverage — led by our correspondent in Bogotá, Colombia, with support from the emerging markets desk in London — gives you the comprehensive story on how Latin America’s governments, banks and companies are financing themselves in bond markets.

GlobalCapital is the place to read LatAm deal analysis, market reaction, the drivers behind issuance trends, and about all the important goings-on in secondary markets and the increasingly busy world of debt restructuring.




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