LATAM CLOSE-No deals price in LatAm primary market

miércoles 27 de julio de 2016 15:13 GYT
 

* PDVSA boss says debt swap planned
    * Brazil's Energisa sells stock amid strong demand
    * Eletrobras hopes to relist US shares in October

    By Mike Gambale and Paul Kilby
    NEW YORK, July 27 (IFR) - No deals priced in the LatAm primary market on
Wednesday.
        
    Here is a snapshot of LatAm sovereign spreads:
     SOVEREIGN      7/26  7/25  7/22   1D   10D   YTD    2015/16 HIGH
 ARGENTINA          474   463    461   11    4     -           -
 BARBADOS           669   674    675   -5   -18    65    659 (2/11/16)
 BRAZIL             311   306    304    5    6    -175   542 (2/11/16)
 CHILE               71    71    71     0    -6   -15    143 (2/11/16)
 COLOMBIA           228   222    215    6    4    -61    412 (2/11/16)
 COSTA RICA         403   401    406    2    -7   -114   587 (2/11/16)
 DOMINICAN REP      383   373    370   10    24   -32    542 (2/11/16)
 ECUADOR            916   903    891   13    -1   -399  1765 (2/11/16)
 EL SALVADOR        481   481    485    0   -96   -159   840 (2/11/16)
 GUATEMALA          238   233    234    5   -14   -64    385 (2/11/16)
 JAMAICA            406   404    406    2   -14   -43    519 (2/11/15)
 MEXICO             174   171    167    3    3    -20    278 (2/11/16)
 PANAMA             173   170    168    3    3    -33    272 (2/11/16)
 PERU               177   172    168    5    4    -54    291 (2/10/16)
 TRINIDAD & TOBAGO  195   195    199    0   -20    97    173 (1/15/15)
 URUGUAY            237   232    232    5    -1   -31    344 (2/11/16)
 VENEZUELA          2676  2607  2554   69    4    -116  3713 (2/12/16)
    Source: Bank of America Merrill Lynch Master Index
    
    SPREAD TRENDS:
    One-day change mostly flat to wider
    Ten-day trend mixed, 9 out of 17 sovereigns tighter
    YTD: Brazil tighter by 175bp
    YTD: Ecuador tighter by 399bp
    
    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; editing by Shankar Ramakrishnan)