Mexico

Mexican cement company Cemex will look to buy back as much of its 9.375% senior secured 2022s as possible after announcing a tender offer for the bonds.

Mexico chemicals company Mexichem is planning a return to international bond markets, according to syndicate bankers, as part of its acquisition of Israel drip irrigation firm Netafim.

A special purpose vehicle backing the construction of Mexico City’s new airport was the highlight in a hectic week for Lat Am new issues, with 10 borrowers pricing nearly $8bn of deals in the space of four days.

Five Latin American borrowers sold dollar-denominated bonds on Wednesday, bringing the total number of issuers from the region this week to nine, with mobile and cable company Millicom first out the blocks.

EM specialist firm Exotix has hired a well-known corporate credit analyst to lead its coverage of Latin American companies from New York.

Two Latin American companies announced roadshows this week as the new issue markets finally gave an indication that banker predictions of a hectic September could come true.

Mexican broadcaster TV Azteca told bondholders on Friday that it would call some of its 7.625% dollar bonds due 2020, using proceeds from its recent debt issuance to do so.

Mexican broadcaster TV Azteca achieved impressive size and pricing and a strong secondary market performance when it sold its first bond in four years this week, brushing off investor concerns about its history and potential low liquidity.

Leads on Mexican broadcaster TV Azteca’s planned $350m seven year non-call four bond told investors on Tuesday evening that orders had reached $800m, as it looks to price the bond on Wednesday.

Mexican broadcaster TV Azteca is on the road with three banks ahead of a planned international bond sale as it looks to refinance existing debt.

TV Azteca, the second largest Spanish language television producer in the world, is looking to raise new dollar debt just a few days after it said it would use pesos to prepay dollar notes due 2018.

Mexican state-owned oil company Pemex on Tuesday sold $5bn of bonds that left investors very happy. The curve had widened significantly in the run-up to the deal, but the new bonds popped as much as two points in the aftermarket.