Argentina

Argentine energy company Capex and Mexican financial Unifin showed that conditions were as strong as ever in Latin American bond market as both high yield names notches blow-out new issues.

The emerging market bond pipeline remained strong this week with Turkish lender Finansbank the latest CEEMEA name to join the fray, after the borrower announced a one day roadshow for Wednesday. Meanwhile, Latin American borrowers are beginning to encounter some investor push-back.

Two high yield companies from Latin America will wrap up investor meetings on Tuesday ahead of planned dollar-denominated bond issues.

A strong market backdrop and bond investors’ continued love affair with Argentina allowed state oil company YPF and private sector lender Banco Macro to sell fixed rate peso-denominated bonds to international buyers — trades that would have been unthinkable just months ago.

The bond market’s love for Argentina reached new heights on Wednesday as Banco Macro became the first issuer to sell fixed rate peso debt in international markets since the country returned from financial market wilderness 13 months ago.

Argentine state oil company YPF is set to provide arguably the biggest test yet of investor demand for Argentine peso-denominated paper.

Argentine lender Banco Macro will begin meeting fixed income investors today ahead of a planned fixed rate peso-linked bond.

Argentina’s third largest private sector bank has pencilled in the pricing of a $300m-equivalent peso-linked note for May 2, according to a regulatory filing made on Friday.

Capex SA, the Argentine electricity company, is planning a $300m bond sale with Standard & Poor's promising an upgrade should the borrower successfully be able refinance its forthcoming maturities.

Argentine province Neuquén priced a new bond that was more than six times subscribed on Thursday as investors jumped into the first Latin American deal following the quiet Easter period.

Capex SA, the Argentine electricity company, is planning a $300m bond sale with S&P promising an upgrade should the borrower successfully be able refinance its forthcoming maturities.

Argentine province Neuquén began meeting fixed income investors on Monday as it looks to issue a second international bond in two years.