South America
-
Ecopetrol, Colombia's largest company, will use the loan to acquire the outstanding shares of electricity company Interconexion Electrica -
Power company tightens covenants, promises additional new notes
-
Market participants say EMIA’s “enhanced” principles may be onerous for issuers
-
Peruvian generation company to repurchase $145m of 2027s
-
-
With the bond market monitoring Argentina’s progress in negotiating a deal with the IMF, the country’s economy ministry has promoted from within to replace its outgoing finance secretary.
-
The Emerging Markets Investor Alliance, a non-profit comprising several major EM asset managers, will release “enhanced” principles for green, social, sustainable and sustainability-linked bonds on Thursday in response to what it sees as a “loss of confidence” in the labelled bond asset class.
-
Mining company Gran Colombia Gold Corp sold a senior unsecured $300m five year note on Wednesday, with bankers saying that the company had offered a pricing pick-up that could be attributed to the use of proceeds — to fund a new project in Guyana.
-
Power company Genneia has become the latest Argentine company to look to refinance bonds with an exchange considered distressed by rating agencies, as capital controls in the country limit corporate issuers’ access to hard currency. Unusually, the distressed exchange will result in the issuance of green bonds.
-
Andrés Pérez, who has led Chile through two consecutive record breaking years of international bond issuance, has left his position as head of international finance at the Latin American sovereign to become chief economist at Itaú Chile.
-
As sustainability-linked bond issuance gains momentum in emerging markets, questions are being asked about the product and its potential for innovation. The next iteration could see a feature already accepted in the loan market but not yet in bonds: a margin step-down.
-
Export Development Canada (EDC) sold the first offshore Chilean peso bond of the year as it dropped into the currency in search of short dated borrowing earlier this week.
