Argentina

Argentine airport operator Aeropuertos Argentina 2000 fetched a new 10 year bond some 30bp inside initial price thoughts on Monday to become the fifth issuer, and fourth corporate, from the country to issue this year.

AES Argentina priced a new seven year bond well inside the expectations of much of the market on Thursday as conditions recovered quickly after a wobble at the end of last week.

Donald Trump’s inauguration as US president had no effect on Latin American bond markets, said syndicate bankers, although a sell-off in US Treasuries meant the buoyant market tone had softened by the end of the week.

Argentina found ample demand for its latest dollar-denominated bond sale on Thursday as investors found reassurance in the South American country’s ability to diversify its funding.

Argentine energy company Pampa Energía clinched pricing that was at least flat to its closest comps on its debut bond issue, said EM syndicate bankers, as corporates from the country look set to keep taking advantage of their newfound popularity.

Argentina had attracted nearly $15bn of orders for its latest dollar issuance by Wednesday’s close, as both investors and bankers following the deal said they thought the sovereign may issue more than the $5bn it initially planned to sell.

Argentine energy company Pampa Energía clinched pricing that was “very competitive” versus peers on its debut bond issue, said EM syndicate bankers, as borrower-friendly conditions showed no sign of fading ahead of Argentina’s crucial sovereign bond issue on Thursday.

All seven new issues to emerge from Latin America last week ended Friday above their respective reoffer prices to reiterate the favourable conditions available to the region’s borrowers.

Argentina could not wish for better market conditions as it prepares its crucial first bond of 2017, said Lat Am bankers this week. After many sleepless nights for DCM bankers pitching the deal, the South American sovereign on Wednesday mandated bookrunners, writes Oliver West.

Fast growing Argentine energy company Pampa Energía will begin investor meetings on Tuesday as it plans a much anticipated debut bond sale to refinance loans used to purchase Petrobras’ Argentine operations last year.

Power generation company Genneia looks set to become the first Argentine company to debut in bond markets this year as DCM bankers predict a slew of new corporate issuers from the country in 2017.

Argentina’s resurgence in international bond markets helped JP Morgan end 2016 as the top firm in primary in Latin America bond markets, up from sixth place in 2015, according to Dealogic.