Caribbean

Caribbean cable company Digicel returned to the bond markets on Thursday with a senior secured bond deal that allows it to repay funds drawn down on its revolving credit facility, as well as its bank term loan A.

Caribbean telecoms group Digicel has finally wrapped up a distressed debt exchange to avoid a potential default next year, after extended negotiations with bondholders. But Fitch warned on Monday that the move has “undermined” the group’s position with creditors.

Caribbean telecoms group Digicel has finally wrapped up a distressed debt exchange to avoid a potential default next year, after extended negotiations with bondholders. But Fitch warned on Monday that the move has 'undermined' the group’s position with creditors.

NiQuan Energy Trinidad Limited, the owner of a gas-to-liquids plant in Trinidad & Tobago, began meeting bond investors on Tuesday. But another tough week left Latin America bond bankers down on the chances of new issuance before the end of the year.

NiQuan Energy Trinidad Limited, the owner of a gas-to-liquids plant in Trinidad & Tobago, will begin to meet bond investors on Tuesday as it looks for a debut deal that could bring some unexpected December activity to the Lat Am primary market.

Société Générale has agreed to pay $1.34bn in fines and an enhanced monitoring programme for violating US sanctions against Cuba, Iran, Sudan, Libya, Myanmar and North Korea, according to notices issued by US agencies on Monday.

The two A-rated new issues shown to Lat Am bond buyers last week both traded well on Friday, but it was a different story for the bulk of the region as bankers have little hope of deals during the Thanksgiving week.

A strong bond market return from Bermuda on Thursday did little to cheer Latin America DCM bankers about prospects for the rest of the year as Brazilian paper company Klabin became the latest company from the region to wait after completing investor meetings.

The government of Bermuda could issue a new dollar benchmark this week, as it seeks to finance the buy-back of up to $424m of existing bonds.

Cable & Wireless, the Caribbean telecoms company, is set to raise $500m of new eight year non-call three bonds on Thursday as EM investors say they expect US high yield buyers to give the deal momentum.

Owners of Barbados’s international bonds are set to put up resistance to the sovereign’s restructuring plans, complaining that they have had poor communication from the defaulted government.

Owners of Barbados’ international bonds on Tuesday issued a scathing rebuke to the government’s restructuring process, in response to the island nation’s domestic debt exchange.