Latin America
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The sovereign has issued well over $10bn in just two days to fund liability management for Pemex -
Authorities are trying to re-establish Pemex as a standalone issuer
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The sovereign has had a busy year of issuance and liability management
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Sovereign, Petrobras, Suzano and Rede D'Or all hit dollar market
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The country is taking an exchange rate risk, but perhaps not a big one
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The food maker made its bond market debut in May
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Principal repayments coming due but Bolivia's foreign exchange coffers are bare
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Sovereign is working to diversify its funding sources, including with an unprecedented loan
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Reform will be very painful, but worth it
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Investors have praised the deal, and Pemex's spread to the sovereign has crunched tighter
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Market conditions are 'ultra supportive', said one banker
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Swiss bank is only the second institution globally to use the instrument
