LATAM CLOSE-No deals price in LatAm primary market

martes 14 de junio de 2016 16:40 GYT
 

* Venezuela seeks grace period on Chinese debt
    * Argentina's Arcor plans bond sale
    * EM CDS volumes jump in Q1: EMTA

    By Mike Gambale
    NEW YORK, June 14 (IFR) - No deals priced in the LatAm primary market on
Tuesday.
    
    Here is a snapshot of LatAm sovereign credit spreads:      
     SOVEREIGN       6/13  6/10  6/9   1D  10D   YTD    2015/16 HIGH
 ARGENTINA           509   502   496   7    28    -           -
 BARBADOS            654   652   643   2    2     50    659 (2/11/16)
 BRAZIL              364   358   350   6   -16   -122   542 (2/11/16)
 CHILE               109   102    99   7    13    23    143 (2/11/16)
 COLOMBIA            271   261   250   10   -3   -18    412 (2/11/16)
 COSTA RICA          469   464   462   5   -13   -48    587 (2/11/16)
 DOMINICAN REP       420   413   405   7    9     5     542 (2/11/16)
 ECUADOR             920   906   889   14   52   -395  1765 (2/11/16)
 EL SALVADOR         662   658   651   4   -17    22    840 (2/11/16)
 GUATEMALA           292   288   288   4    0    -10    385 (2/11/16)
 JAMAICA             433   431   427   2    4    -16    519 (2/11/15)
 MEXICO              201   196   189   5    5     7     278 (2/11/16)
 PANAMA              204   201   195   3    -3    -2    272 (2/11/16)
 PERU                208   205   197   3    3    -23    291 (2/10/16)
 TRINIDAD & TOBAGO   218   212   207   6    12   120    173 (1/15/15)
 URUGUAY             263   261   255   2    4     -5    344 (2/11/16)
 VENEZUELA           2895  2874  2816  21  -93   103   3713 (2/12/16)
    Source: Bank of America Merrill Lynch Master Index
    
    SPREAD TRENDS:
    One-day change shows all LatAm sovereigns wider
    Ten-day trend: 11 out of 17 sovereigns wider
    Ecuador tighter by 395bp YTD
    
    PIPELINE
    Argentina's Province of Salta started roadshows this week as it looks to
market a 144A/Reg S bond transaction after mandating Deutsche Bank and
Citigroup. 
    The borrower was in London and Los Angeles on Tuesday and will wrap up
investor meetings in New York and Boston on Wednesday. Ratings are CCC+/B by S&P
and Fitch.

    Mexican real-estate developer Grupo GICSA has kicked off international
roadshows to market a US dollar bond through JP Morgan and Santander.
    The company was in Boston on Tuesday and will head to New York on Wednesday.
Expected ratings are BB/BB-.

    Argentine sweets and biscuit company Arcor is looking to raise up to US$300m
through an up to 10-year bond sale, according to a filing with local regulators.
    The borrower was last in the market in 2010, when it issued a US$200m
seven-year non-call four at par to yield 7.25% through leads JP Morgan and
Santander. 

    Celulosa Argentina is eyeing an up to US$250m seven-year bond sale,
according to a filing with local regulators. The pulp and paper company has been
in discussions with bankers from Citigroup and Credit Suisse about financing
options, the company said.

    Bolivia is hoping to sell an up to US$1bn 10-year bond in the coming months,
according to Economy Minister Luis Arce Catacora.
    Proceeds would go mainly towards investment in healthcare, specifically
hospitals. Bolivia is rated BB by S&P and Fitch and one notch lower at Ba3 by
Moody's.

 (Reporting by Mike Gambale and Paul Kilby; Editing by Marc Carnegie)