2 MIN. DE LECTURA
* Mexico central bank holds interest rates
* Brazil real slips as central bank acts
* Banco do Brasil soars as forecast raised for interest income
By Mike Gambale
NEW YORK, Aug 11 (IFR) - Below is a recap of primary issuance activity in the LatAm primary market on Thursday:
Number of deals priced: 1
Total issuance: US$364m
Jamaica has set price guidance of 6.875% area on a reopening of its 8% 2039 US dollar bond that will finance the buyback of existing debt, according to a source close to the situation. Guidance was tight to initial price thoughts of 7% area seen on Wednesday, when the sovereign announced the transaction.
Jamaica, rated Caa2/B/B, is yet to determine the size of the reopening, which will be used to finance a tender on its 10.625% 2017s and 8% 2019s. The 2039s, of which the sovereign has US$500m outstanding, amortize in three equal installments over their last three years to maturity. Bank of America Merrill Lynch and Citigroup are the bookrunners on the new issue and dealer managers on the tender offer, which expires on Thursday.
GUIDANCE: 6.875% (+/- 12.5bp)
PRICED: US$364m (new cash) at 114.082, 6.75% yld.
None (Reporting by Mike Gambale; editing by Shankar Ramakrishnan)