LATAM CLOSE-No trades price in LatAm primary market

martes 21 de junio de 2016 15:00 GYT
 

* Arcor mandates banks on dollar bond
    * Samarco bonds tumble on possible debt talks
    * Banco Pan wraps up debt tender
    * Oi bonds slump on bankruptcy filing

    By Mike Gambale and Paul Kilby
    NEW YORK, June 21 (IFR) - No deals priced in the LatAm primary market on
Tuesday.
    
    Here is a snapshot of LatAm sovereign credit spreads: 
     SOVEREIGN       6/20  6/17  6/16  1D   10D  YTD    2015/16 HIGH
 ARGENTINA           484   498   506   -14   9    -           -
 BARBADOS            645   650   653   -5    6    41    659 (2/11/16)
 BRAZIL              351   365   374   -14  -1   -135   542 (2/11/16)
 CHILE               102   105   115   -3    4    16    143 (2/11/16)
 COLOMBIA            260   271   280   -11  10   -29    412 (2/11/16)
 COSTA RICA          463   470   478   -7   -14  -54    587 (2/11/16)
 DOMINICAN REP       421   426   434   -5    7    6     542 (2/11/16)
 ECUADOR             929   960   967   -31  44   -386  1765 (2/11/16)
 EL SALVADOR         676   682   688   -6   12    36    840 (2/11/16)
 GUATEMALA           288   295   300   -7   -7   -14    385 (2/11/16)
 JAMAICA             442   448   452   -6   12    -7    519 (2/11/15)
 MEXICO              196   204   208   -8    9    2     278 (2/11/16)
 PANAMA              203   210   215   -7    4    -3    272 (2/11/16)
 PERU                196   202   210   -6    3   -35    291 (2/10/16)
 TRINIDAD & TOBAGO   218   223   223   -5   12   120    173 (1/15/15)
 URUGUAY             256   262   271   -6    2   -12    344 (2/11/16)
 VENEZUELA           2880  2971  2954  -91  62    88   3713 (2/12/16)
    Source: Bank of America Merrill Lynch Master Index
    
    SPREAD TRENDS
    All LatAm sovereigns tighter overnight
    Ten-day trend: 14 of 17 sovereigns wider
    YTD: Trinidad & Tobago wider by 120bp
    
    PIPELINE:
    Petrobras Argentina is preparing an up to US$500m bond sale to fund a tender
for all of its US$300m of outstanding 5.875% 2017s, according to a filing with
local regulators.
    The borrower is seeking to raise 10-year money and has mandated Citigroup
and Deutsche on the deal. The announcement comes after Pampa Energia agreed
earlier this year to purchase a 67.2% stake in Petrobras Argentina for US$892m. 

    Argentina's Province of Salta wrapped up roadshows last week after marketing
a 144A/Reg S bond transaction through Deutsche Bank and Citigroup. Ratings are
CCC+/B by S&P and Fitch.

    Mexican real-estate developer Grupo GICSA finished investor meetings last
week through JP Morgan and Santander. The company has been marketing a US dollar
bond, which is expected to be rated BB/BB-.

    Argentina's Arcor has mandated Itau BBA, JP Morgan and Santander on an up to
US$300m bond sale in the international markets, according to a filing with local
regulators.
    The sweets and biscuits company is looking to raise up to 10-year money and
use the proceeds to buy back up to US$200m in outstanding 2017s, the filing
said.

    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 Paul Kilby and Mike Gambale; Editing by Marc Carnegie)