Chile

Falabella, the Chilean retail company, raised $400m of new debt in a 5.5 times subscribed deal on Monday, as bond bankers say the party in Lat Am bond markets is set to continue.

Chile-headquartered Falabella will begin investor meetings on Wednesday as it plots its first international bond issuance in three years.

Chilean power company Colbún will buy back more than 70% of its existing $500m 6% 2020s after wrapping up the early-bird portion of a tender offer.

Extraordinarily strong appetite for EM corporate paper helped power company Colbún become the latest Latin American borrower to issue through its existing curve on Wednesday.

Chilean credit union Cooperativa del Personal de la Universidad de Chile (Coopeuch) joins the ranks of Chilean borrowers welcomed into the Swiss franc bond market. Thursday’s outing further illustrates that the love affair of the Chilean borrower and Swiss buyer not only endures but burns brightly.

Nearly 95% of holders of Latin America oil and gas company GeoPark’s $300m of bonds due 2020 agreed to sell their paper as part of tender offer, the issuer said on Thursday evening.

Mexican cement company Cemex and Chilean electricity name Colbún both launched tender offers of existing bonds this week, planning to buy back old notes with cash.

Latin American oil and gas company GeoPark sold $425m of seven year non-call four notes last week, with the first leg of a concurrent tender offer due to expire on Tuesday.

A hefty back-up in US Treasuries did not stop Chilean oil company Enap clinching its longest ever bond issue on Monday, offering what bankers off the deal saw as a single digit new issue premium.

At least eight Latin American corporates are meeting fixed income investors ahead of potential dollar trades next week, with Brazilian credits in particular apparently keen to make up for lost time.

Chilean oil and gas company GeoPark will look to sell new 144A/Reg S bonds to fund the buy-back of all its $300m 7.5% notes due in 2020.

Empresa Nacional del Petróleo (Enap), the state-owned Chilean oil company, is looking to issue its first bond in a year shortly after escaping negative rating actions despite several downgrades to the sovereign’s rating.