Honduras

Japanese life insurer buys entire amount of deal designed to fund athlete education and facilities

Deal is the first in Swiss francs from Central America since August

Bond markets were in better shape this week but there was no eruption of LatAm bond deals

Danery Alvarado will leave development bank on April 15

Congress allows new government to issue extra $2bn

The Central American Bank for Economic Integration (Cabei) is working to develop a regional bond market that it hopes will broaden the investor base for Central America’s sovereigns, some of which have patchy access to global markets. Cabei’s CFO told GlobalCapital that the supranational will provide seed capital for a fund to participate in the market, which he believes could eventually attract foreign buyers.

Latin America DCM bankers are gearing up for a calmer period in primary bond markets as first quarter earnings blackout periods near, after two companies jumped on an improving tone at the end of last week to sell rare Friday deals.

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.

A highly diversified order book allowed the Central American Bank for Economic Integration (Cabei) to tighten pricing on its first ever benchmark social bond on Wednesday, with the multilateral lender raising $500m of five-year money.

The Central American Bank for Economic Integration (Cabei) is holding investor calls until Tuesday as it looks to sell a debut social bond in dollars.

The Central American Bank for Economic Integration (Cabei) said it became the first multilateral lender to sell a Covid-19 “vaccine bond” after raising $50m of five-year money to support immunisation initiatives when Covid-19 vaccine becomes available.

Central American sovereign Honduras marked a new milestone for EM bond markets in the coronavirus era this week as it became the lowest-rated issuer from Latin America to issue during the crisis. Oliver West reports.