Mexico

Mexican government-owned oil company Pemex held an investor call on Wednesday morning ahead of a planned sterling-denominated trade.

EM bond investors said that Fibra Uno’s latest dollar issue represented great value for such a strong credit as the deal tightened several basis points in the aftermarket.

Latin American bond markets had a poor first day of trading after the Thanksgiving break, giving Mexican real estate investment trust Fibra Uno a tough ride withn its second international issue.

Dr Alberto Torres García, head of economic research at Mexico's central bank, is to take over from of Alejandro Díaz de León as head of the country’s public credit as Díaz de León leaves to take run development bank, Bancomext.

Moody’s has reduced Mexican government-owned oil giant Pemex’s credit rating from A3 to Baa1 and kept the issuer on negative outlook, saying that the company’s weak credit metrics would deteriorate further in the near to medium term.

Mexican broadcaster Grupo Televisa sold $1.2bn of 10 and 30 year bonds on Thursday to reignite a Latin American bond market that some had suggested was heading for early hibernation.

Fitch upgraded Mexican auto parts supplier Tenedora Nemak from BB to BB+ on Wednesday, bringing the issuer up to the highest level of sub-investment grade with all three major rating agencies.

Goldman Sachs, HSBC and Morgan Stanley will lead Mexican television broadcaster Grupo Televisa’s next international bond, although there is no indication yet of when it will happen.

Pemex CFO, Mario Beauregard has resigned from the state-owned Mexican oil giant and will be replaced by a peer from a fellow government enterprise.

It was hardly back with a bang, but Latin American corporate issuance is on the agenda again after Fibra Terrafina sold $425m of seven year notes on Tuesday — some two months after its roadshow.

Latin America bankers say that a Mexican corporate is likely to announce a roadshow on Thursday after Fibra Terrafina’s debut deal traded well in secondary despite only a modest oversubscription.

Mexican government-owned development lender Nafin (Nacional Financiera) became the first Latin American financial institution to sell a green bond on Thursday in what one banker said was a landmark deal for the product in the region.