Latin America

  • Falling inflation helps stable Uruguay find backing for peso deal

    Falling inflation helps stable Uruguay find backing for peso deal

    Uruguay, considered the most promising credit story among Latin America's investment grade sovereigns, raised $1.74bn-equivalent in pesos and dollars on Thursday, becoming the first sovereign from the region to issue local currency abroad in 2021 — as it was in 2020.

  • Lat Am sovs to come under pressure as tensions rise

    Lat Am sovs to come under pressure as tensions rise

    Investors in Latin America are growing increasingly concerned that social unrest in Colombia, where tax reform plans are in tatters and more than 40 people are dead, is a sign of things to come, with sovereigns facing severe pressure as they attempt to improve credit profiles that have been battered by the coronavirus pandemic. Yet sovereign bond markets are seeing only modest, short-lived sell-offs, given the enormous liquidity still in bond markets.

  • Bimbo brings 30-year amid Treasury sell-off

    Bimbo brings 30-year amid Treasury sell-off

    Mexican food company Grupo Bimbo proceeded with a 30 year bond issue on Wednesday despite a US inflation reading that sent Treasury yields to their widest levels in a month. A strong bid from US investment grade buyers ensured a bumper order book, but some observers were surprised that the issuer had not delayed its deal in the face of a tricky market.

  • Invatlan eyes $300m secured bond

    Invatlan eyes $300m secured bond

    Inversiones Atlántida (Invatlan), the Central American financial services group that owns the largest bank in Honduras, is looking to raise $300m of senior secured bonds, it told fixed income investors this week.

  • AI Candelaria overcomes Colombian turbulence to notch $600m

    AI Candelaria overcomes Colombian turbulence to notch $600m

    AI Candelaria, the holding company through which private investors own a stake in Colombian oil pipeline Ocensa, returned to bond markets on Monday with a larger than expected $600m deal as Ocensa’s resilience during the coronavirus pandemic outweighed concerns about social unrest and a potential credit rating downgrade in Colombia.

  • Uruguay mandates for pesos, dollars as SLB plans evolve

    Uruguay mandates for pesos, dollars as SLB plans evolve

    Uruguay began investor calls on Monday ahead of a proposed dollar and global local currency bond issue. The marketing effort came as the government continues to take steps towards issuing what would be the first sustainability-linked bond from any sovereign — though this week’s expected deal will not have ESG characteristics.

  • LatAm primary charges on with ‘incredible’ deals

    LatAm primary charges on with ‘incredible’ deals

    Four Latin America and Caribbean companies sold new issues in the dollar market at very tight looking levels on Thursday, as investors continue to feel pressure to put to cash to work amid extremely high liquidity.

  • Gol lands on 8% yield target as investors eye aviation recovery

    Gol lands on 8% yield target as investors eye aviation recovery

    Brazilian airline Gol on Thursday sold the first public bond deal from a Latin American airline since the coronavirus pandemic began, increasing the size of a tap of its 8% 2026s as hopes grow that the vaccine rollout will accelerate in the region and enable the worst affected industries to recover.

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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