Peru

Peru's finance minister, Alfredo Thorne, will be among the representatives as the country carries out a week-long roadshow starting on Monday ahead of a planned sol-denominated bond issue.

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

Pesquera Exalmar, the Peruvian fishmeal farmer, achieved the majority consent from its bondholders this week that it needed to issue a senior secured loan.

Pesquera Exalmar, the Peruvian fishmeal farm, has extended the deadline of a tender offer and consent solicitation on its 7.375% bonds due 2020 from August 19 to August 30 as it seeks bondholder approval for a new senior secured loan.

Pesquera Exalmar, the Peruvian fishmeal farm, has extended the deadline of a tender offer and consent solicitation on its 7.375% bonds due 2020 from August 19 to August 30 as it seeks bondholder approval for a new senior secured loan.

The UK’s possible exit from the European Union is not the only factor to blame for two Latin American borrowers deciding to wait to issue bonds this week, said bankers covering the region.

Peruvian power generation company Kallpa became the first Peruvian issuer apart from the sovereign to issue international bonds as strong local interest helped it to navigate a turbulent market on Thursday.

Kallpa Generación, the Peruvian power generation company, will begin investor meetings today ahead of a potential debut dollar bond in what would be the first non-sovereign Peruvian new issue of 2016.

Camposol, an agribusiness operating mainly on Peru’s Pacific coast, is asking investors to swap existing 2017 bonds for a new five year deal to buy itself time during a period of tight liquidity.

An assortment of borrowers, debt capital market bankers and rating agency officials gathered in Nassau on Friday to discuss the state of play for Latin American bond issuers.

Not all emerging markets bond bankers may agree with the strategy — with certain deal-hungry New York dealers particularly vociferous in their opposition — but Latin American sovereigns are placing increasing faith in the euro market for their international funding, writes Oliver West.

Latin America sovereigns’ new found fancy for euro denominated bonds has sparked fierce words from syndicate bankers defending and questioning the trend.