LATAM CLOSE-No deals price in LatAm primary market

martes 26 de julio de 2016 16:03 GYT
 

* Oi seeks large debt cut from creditors: report
    * BTG Pactual taps former minister to head compliance
    * Chile's Minera Escondida markets US$1bn loan
    * Brazil's Energisa poised to sell equity offering

    By Mike Gambale
    NEW YORK, July 26 (IFR) - No deals priced in the LatAm primary market on
Tuesday.
        
    Here is a snapshot of LatAm sovereign spreads:    
     SOVEREIGN      7/25  7/22  7/21  1D   10D   YTD    2015/16 HIGH
 ARGENTINA          463   461   462    2   -10    -           -
 BARBADOS           674   675   675   -1    -8    70    659 (2/11/16)
 BRAZIL             306   304   304    2    3    -180   542 (2/11/16)
 CHILE               71    71    70    0    -4   -15    143 (2/11/16)
 COLOMBIA           222   215   215    7    1    -67    412 (2/11/16)
 COSTA RICA         401   406   404   -5    -8   -116   587 (2/11/16)
 DOMINICAN REP      373   370   374    3    14   -42    542 (2/11/16)
 ECUADOR            903   891   893   12    -6   -412  1765 (2/11/16)
 EL SALVADOR        481   485   492   -4   -99   -159   840 (2/11/16)
 GUATEMALA          233   234   235   -1   -24   -69    385 (2/11/16)
 JAMAICA            404   406   403   -2   -20   -45    519 (2/11/15)
 MEXICO             171   167   168    4    5    -23    278 (2/11/16)
 PANAMA             170   168   167    2    3    -36    272 (2/11/16)
 PERU               172   168   167    4    2    -59    291 (2/10/16)
 TRINIDAD & TOBAGO  195   199   202   -4   -22    97    173 (1/15/15)
 URUGUAY            232   232   232    0    3    -36    344 (2/11/16)
 VENEZUELA          2607  2554  2539  53   -38   -185  3713 (2/12/16)
    Source: Bank of America Merrill Lynch Master Index
    
    SPREAD TRENDS
    One-day change mixed
    Ten-day trend: most sovereigns tighter, led by El Salvador
    YTD: Brazil tighter by 180bp
    YTD: Guatemala tighter by 69bp
    
    PIPELINE
    The Republic of Trinidad & Tobago, rated Baa3 by Moody's and A- by S&P, has
hired Deutsche Bank and First Citizens Bank to arrange an investor roadshow
ahead of a potential 10-year US dollar bond offering.
    Investor meetings will conclude Wednesday in New York and Boston.
    
    Chilean state-owned oil company Empresa Nacional de Petroleo (ENAP) will
start roadshows next week to market a possible USD 10-year bond as part of a
tender for notes maturing in 2019, 2020 and 2021.
    The company, rated Baa3/BBB-/A, will continue investor meetings in London
and Los Angeles on July 28, New York and Boston on July 29, and New York on
August 1. 
    In conjunction, the company has also launched a tender for its outstanding
6.25% 2019s, 5.25% 2020 and 4.75% 2021s. Citigroup and JP Morgan are leads.

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