LATAM CLOSE-No deals price in LatAm primary market

martes 6 de septiembre de 2016 16:29 GYT
 

* Cabei sells another Formosa bond
    * Minerva starts roadshows for new bond
    * Brazil's Oi debt plan vexes bondholders
    * JBS, Eldorado bonds slump as judge asks CEOs to step down

    By Mike Gambale
    NEW YORK, Sept 6 (IFR) - No deals priced in the LatAm market on Tuesday.
    
    Here is a snapshot of LatAm sovereign spreads:
     SOVEREIGN       9/2   9/1   8/31   1D   10D  YTD    2015/16 HIGH
 ARGENTINA           431   443   437   -12   -17   -          -
 BARBADOS            660   666   666    -6   -5    56   659 (2/11/16)
 BRAZIL              282   289   285    -7    2   -204  542 (2/11/16)
 CHILE                62    65    61    -3   -1   -24   143 (2/11/16)
 COLOMBIA            210   214   209    -4    5   -79   412 (2/11/16)
 COSTA RICA          379   383   378    -4   -5   -138  587 (2/11/16)
 DOMINICAN REP       344   347   343    -3    8   -71   542 (2/11/16)
 ECUADOR             890   895   878    -5   16   -425  1765 (2/11/16)
 EL SALVADOR         465   468   472    -3   -31  -175  840 (2/11/16)
 GUATEMALA           234   236   234    -2    3   -68   385 (2/11/16)
 JAMAICA             393   395   400    -2    3   -56   519 (2/11/15)
 MEXICO              163   167   161    -4    2   -31   278 (2/11/16)
 PANAMA              153   158   150    -5   -2   -53   272 (2/11/16)
 PERU                155   158   154    -3    1   -76   291 (2/10/16)
 TRINIDAD & TOBAGO   210   212   220    -2   19   112   173 (1/15/15)
 URUGUAY             214   217   211    -3    2   -54   344 (2/11/16)
 VENEZUELA           2476  2553  2546  -77   -14  -316  3713 (2/12/16)
    Source: Bank of America Merrill Lynch Master Index
    
    SPREAD TRENDS:
    One-day change all sovereigns tighter
    Ten-day trend 10 out of 17 sovereigns wider
    YTD: Chile tighter by 24bp
    YTD: Jamaica tighter by 56bp
    YTD: Mexico tighter by 31bp
    
    PIPELINE:
    Brazilian beef company Minerva has started roadshows to market a bond sale
following the launch of a tender for its outstanding 7.75% 2023s.
    The borrower visited accounts in London on Monday and will be in Los Angeles
and Boston on Tuesday before wrapping up in New York on Wednesday.  
    Last week, the company launched a tender and a consent solicitation on
US$868.015m of outstanding 2023s. Holders who validly tender and deliver
consents by the early bird date of September 14 will receive US$1,065 for each
US$1,000 in principal. Thereafter but before the final expiration date of
September 28, the price drops to US$1,035.
    Banco Bradesco, Bank of America Merrill Lynch, HSBC, Itau and JP Morgan are
taking the borrower on the road, while also acting as dealer managers and
solicitation agents. 

 (Reporting by Mike Gambale; editing by Shankar Ramakrishnan)