LATAM CLOSE- No deals price in LatAm primary

miércoles 17 de febrero de 2016 17:21 GYT
 

* Downgrade weighs on Brazil bonds
    * Colombia negative outlook met with shrug
    * Usiminas proposes capital increase
    * Santander Chile starts US$500m buyback

    By Anthony Rodriguez
    NEW YORK, Feb 17 (IFR) - No deals priced in the LatAm primary market on
Wednesday.
        
    Here is a snapshot of LatAm sovereign credit spreads: 
     SOVEREIGN       2/16    2/15    2/12     1D    10D   YTD    2015/16 HIGH
 BARBADOS            653     651      651      2     17    49    659 (2/11/16)
 BRAZIL              526     532      532     -6     17    40    542 (2/11/16)
 CHILE               125     134      134     -9     -2    39    143 (2/11/16)
 COLOMBIA            384     392      393     -8     6     95    412 (2/11/16)
 COSTA RICA          574     579      579     -5     29    57    587 (2/11/16)
 DOMINICAN REP       521     527      527     -6     16   106    542 (2/11/16)
 ECUADOR             1697    1737    1736     -40    85   382   1765 (2/11/16)
 EL SALVADOR         822     825      824     -3     40   182    840 (2/11/16)
 GUATEMALA           368     372      372     -4     7     66    385 (2/11/16)
 JAMAICA             498     504      505     -6     -3    49    519 (2/11/15)
 MEXICO              260     266      266     -6     8     66    278 (2/11/16)
 PANAMA              254     260      260     -6     9     48    272 (2/11/16)
 PERU                284     287      287     -3     12    53    291 (2/10/16)
 TRINIDAD & TOBAGO   151     153      153     -2     6     53    173 (1/15/15)
 URUGUAY             325     332      333     -7     11    57    344 (2/11/16)
 VENEZUELA           3427    3689    3713    -262    43   635   3713 (2/12/16)
    Source: Bank of America Merrill Lynch Master Index    
       
    LATAM PIPELINE 
    The province of Buenos Aires is expected to come with a deal after local
papers reported Citibank, JP Morgan and HSBC have been mandated on an up to
US$500m bond deal for which the borrower hopes to pay anywhere between 9%-9.5%.
    The province of Mendoza is looking to raise US$300m in both the local and
international markets to refinance debt, according to local reports. 
    And while Neuquen province is in less of a rush thanks to tax receipts from
the federal government, it too is contemplating a bond issue. 
    The United Mexican States has filed an up to US$10bn debt shelf with the US
Securities and Exchange Commission. Proceeds will be used for general purposes,
including refinancing and the repurchase of debt.
    Argentine E&P company Medanito has wrapped up roadshows ahead of a possible
transaction through Itau and UBS. Expected rating is CCC+ by Fitch.
    Concesion Pacifico Tres, a toll-road concession in Colombia, wrapped up a
roadshow through Goldman Sachs. The company is looking to raise up to US$272m of
bonds, according to Fitch, which has rated the senior secured bonds BBB-.
    Pacifico Tres is jointly owned by Construcciones El Condor SA, Mario Alberto
Huertas Cotes, and Constructora MECO SA. Structure Banca de Inversion is acting
as its financial advisor.
    Argentina utility Pampa Energia's shareholders have approved a US$500m debt
program.
    Uruguay plans to raise up to US$1.5bn in bonds this year.
    Colombia hopes to issue US dollar or euro-denominated bonds soon, the
country's finance minister has told market participants.

 (Reporting by Anthony Rodriguez; Editing by Marc Carnegie)