Mexico

Mexico-based lender Banco Inbursa — part of the Carlos Slim empire — began marketing a planned 10 year senior unsecured bond on Thursday as it looks to tap international bond markets for the first time in over two years.

Three Latin American corporates announced roadshow plans on Wednesday as appetite for EM credit shows no sign of softening.

The second in command in Mexico’s public debt office has left his job to become CFO of state-owned electricity utility, Comisión Federal de Electricidad.

Gulf supply remained the dominant theme in CEEMEA bonds again this week as markets reopened in buoyant mood after Monday’s US holiday.

A special purpose vehicle backed by the state-owned sponsor of Mexico City’s new airport will begin a roadshow on Friday ahead of a planned green bond.

Mexican government-owned development bank Nacional Financiera (Nafin) sold the first ever local currency green bond from Latin America on Wednesday in a deal that market participants said showed the direction the market needs to take to grow in the region.

The United States has unseated the United Kingdom from its long dominance of over-the-counter interest rate swaps (IRS) trading, according to an industry report this week.

Standard & Poor’s said on Tuesday that there was at least a one-in-three chance of Mexico receiving a downgrade to its BBB+ rating within the next two years, although bond markets showed no reaction to the announcement.

Mexican government-owned development bank Nacional Financiera (Nafin) will announce a green bond in Mexican pesos at the end of the month, which will aim to raise up to Mp2bn ($109m) to finance renewable energy projects.

trueEX, a New York based interest rate swap trading platform, has begun providing execution of Brazilian real swaps cleared at CME Group.

Financiera Independencia (Findep), the Mexican microfinance lender, has closed a tender offer for its 7.5% senior notes due 2019 after an extension to the early bird deadline did little to increase the uptake.

Mexico and Jamaica carried out triumphant, credit positive liability management exercises this week, as Latin American bankers saw little to suggest the overwhelming demand for yield helping to drive activity in the market will soften in the near term.