Mexico

Mexico’s largest private sector energy company, IEnova, was overwhelmed with orders on Thursday as bond investors welcomed the chance to pick up some new paper not from Brazil or Argentina.

Alpha Holding, which specialises in consumer and SME lending in Mexico and Colombia, has named leads for a dollar bond.

As two financial market favourites made important strides in Mexican public life this week, bond investors in Europe gave an extraordinary welcome to high yield cement company Cemex on Tuesday.

The day after the president named him as Mexico’s new central bank chief, Alejandro Díaz de León tells GlobalCapital about the inflation challenge, and adds that the world’s central bankers should be keeping a close eye on the “atypical” business cycle in advanced economies.

The day the president named him as Mexico’s new central bank chief, Alejandro Díaz de León tells GlobalCapital about the inflation challenge, and adds that the world’s central bankers should be keeping a close eye on the “atypical” business cycle in advanced economies.

Mexican cement group Cemex made a spectacular return to European bond markets on Tuesday, increasing the size of a seven year non-call three deal that bankers saw as coming inside fair value.

As much as Latin American bond markets have enjoyed a record year, trades of $300m or under that are not eligible for indices have largely struggled.

Broad demand helped Mexico’s Crédito Real price the first perpetual hybrid from a Latin American non-bank lender at the tight end of guidance on Tuesday.

Mexican non-bank lender Crédito Real is set to price its first perpetual hybrid bond on Tuesday after releasing guidance on Monday.

A record year for Latin American bond issuance could end quietly after a sharp softening in market conditions, although certain bond bankers continue to push clients to issue as soon as possible.

Mexican non-bank lender Crédito Real is on the road looking for a perpetual hybrid bond even as other issuers delay deals or roadshow announcements amid weaker market conditions.

Neither Brazilian pulp and paper company Fibria nor Mexican telco business Axtel were able to price new deals at the tight end of guidance on Thursday as syndicate bankers said a much-needed and predictable market correction had finally begun.