LATAM CLOSE-No deals price in LatAm market
* Cosan picks banks for bond, buyback * Peru tighter on possible Kuczynski win * ContourGlobal Power roadshows euro deal * Mexico revises guidance on Samurai By Mike Gambale and Paul Kilby NEW YORK, June 6 (IFR) - No deals priced in the LatAm primary market on Monday. Here is a snapshot of LatAm sovereign credit spreads: SOVEREIGN 6/3 6/2 6/1 1D 10D YTD 2015/16 HIGH ARGENTINA 488 473 473 15 -3 - - BARBADOS 665 656 652 9 16 61 659 (2/11/16) BRAZIL 362 362 374 0 -5 -124 542 (2/11/16) CHILE 100 99 95 1 5 14 143 (2/11/16) COLOMBIA 263 263 271 0 -15 -26 412 (2/11/16) COSTA RICA 485 484 481 1 -4 -32 587 (2/11/16) DOMINICAN REP 426 418 413 8 10 11 542 (2/11/16) ECUADOR 912 889 897 23 -16 -403 1765 (2/11/16) EL SALVADOR 682 677 673 5 9 42 840 (2/11/16) GUATEMALA 301 293 291 8 2 -1 385 (2/11/16) JAMAICA 438 428 425 10 9 -11 519 (2/11/15) MEXICO 193 191 193 2 -5 -1 278 (2/11/16) PANAMA 207 203 206 4 0 1 272 (2/11/16) PERU 203 200 203 3 -1 -28 291 (2/10/16) TRINIDAD & TOBAGO 213 200 198 13 6 115 173 (1/15/15) URUGUAY 261 256 258 5 3 -7 344 (2/11/16) VENEZUELA 2877 2954 2978 -77 -48 85 3713 (2/12/16) Source: Bank of America Merrill Lynch Master Index SPREAD TRENDS: One-day changes has most sovereigns wider, except Venezuela YTD: Nine out of 16 sovereigns tighter PIPELINE: Brazilian conglomerate Cosan will hold a one-day roadshow this week as it seeks to market a 144A/RegS bond deal after mandating Bank of America Merrill Lynch, Bradesco, Citigroup, HSBC, Itau and Santander. The borrower will meet investors on June 8 in New York, London, Boston and Los Angeles. The company, which is involved in bioethanol, sugar, energy and foods, is rated Ba2/BB/BB+ with negative outlooks from all three major rating agencies. The deal is being done in conjunction with a consent solicitation and tender for any and all of its US$500m of 5% 2023s and its BRL850m (US$243m) of 9.5% 2018s. Holders who tender by the early bird date of June 17 will receive a tender price of 96.00 on the 2023s and 95.00 on the 2018s. Thereafter but before expiration of July 1, those prices dropped to 93.00 and 92.00 respectively. Energy company ContourGlobal Power Holdings (BB-/BB-) has mandated Goldman Sachs for a 550m senior secured 5NC2 trade. Roadshow will head to London on June 6 and 7, Paris and Frankfurt on June 8 and Milan on June 9. The company has also launched a cash tender on its 7.125% senior secured 2019s. ContourGlobal is offering US$1,037.51 for every US$1,000 tendered. The Government of the United Mexican States (A3/BBB+/BBB+) have revised guidance on its latest Samurai offering. The sovereign has narrowed talk on the three-year tranche to 0.40%-0.45% from 0.40%-0.50%, while tightening the five-year notes to a range of 0.70%-0.75% from 0.70%-0.80%. Daiwa, Mitsubishi UFJ Morgan Stanley and Nomura are joint lead managers.The transaction is expected to price as early as Thursday. Mexico's last Samurai was a ¥60bn (US$592m) print in July 2014 that included its first 20-year tranche. Mexican real estate investment trust Fibra Uno started roadshows this week as it seeks to market a potential US dollar 144A/Reg S bond. The borrower was in London and Los Angeles on Monday and will wrap up investors meeting in Boston and New York on Tuesday. BBVA, Deutsche Bank, Goldman Sachs and Santander have been mandated as leads. Ratings are Baa2/BBB by Moody's and Fitch. Mexican real estate investment trust Fibra Uno will start roadshows next week as it seeks to market a potential US dollar 144A/Reg S bond. The borrower will be in London and Los Angeles on June 6 and in Boston and New York on June 7. BBVA, Deutsche Bank, Goldman Sachs and Santander have been mandated as leads. Ratings are Baa2/BBB by Moody's and Fitch. Argentina's Cablevision SA is on the road to market an up to US$500m bond sale through leads Deutsche Bank, Itau and JP Morgan. It was to be in New York and Boston on Friday. Next week it is in London on June 6 and back to New York on June 7. Expected ratings are B3/B+. Proceeds to refinance existing debt and for general corporate purposes, according to Moody's. The pay TV and internet service provider is majority-owned by media conglomerate Grupo Clarin. Brazilian pulp and paper company Eldorado has mandated Bank of America Merrill Lynch, Credit Suisse, BB Securities and Santander to market a USD 144/Reg S bond to international investors. The borrower was to be in Switzerland on Friday and then head to Los Angeles on June 6, New York on June 7 and Boston on June 8 Goldman Sachs is on the road marketing a US$500m financing package for Colombian road project Costera. The borrower is looking at dollar bonds as well as inflation-linked peso bonds and loans, according to Fitch, which assigned a BBB- rating to the notes. (Reporting by Mike Gambale and Paul Kilby; Editing by Marc Carnegie)
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