* Brexit stifles primary markets
* 7-year UST yield tighter by 20bp
* 10-year UST yield tighter by 18bp
By Mike Gambale and Paul Kilby
NEW YORK, June 24 (IFR) - No deals priced in the LatAm primary market on Friday.
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-.
Argentine confectionery company Arcor, rated B1/B+, will start roadshows on Friday to market a possible 144A/RegS bond through Itau BBA, JP Morgan and Santander.
The company will be in New York and Los Angeles on Friday and will head to London and Boston on June 27 and wraps up in New York on June 28.
Proceeds are going to fund a tender for any and all of its outstanding 7.25% 2017s. Holders are being offered a purchase price of 101.813 if they validly tender by the expiration date of July 1.
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