LATAM CLOSE-LatAm primary market sees no trades

lunes 22 de febrero de 2016 16:14 GYT
 

* Peru expected to come to market this week
    * Argentina bonds up as judge says could lift injunction
    * Argentine lawmakers seen favoring deal with creditors

    By Mike Gambale
    NEW YORK, Feb 22 (IFR) - No deals priced in the LatAm primary market on
Monday.
    
    Below is a snapshot of Latam sovereign credit spreads.     
     SOVEREIGN      2/19  2/18  2/17  1D   10D   YTD   2015/16 HIGH
 BARBADOS           655   654   648    1    4    51   659 (2/11/16)
 BRAZIL             504   515   509   -11  -23   18   542 (2/11/16)
 CHILE              117   118   113   -1   -16   31   143 (2/11/16)
 COLOMBIA           361   366   364   -5   -43   72   412 (2/11/16)
 COSTA RICA         575   574   569    1    12   58   587 (2/11/16)
 DOMINICAN REP      506   503   505    3   -20   91   542 (2/11/16)
 ECUADOR            1566  1580  1624  -14  -102  251  1765 (2/11/16)
 EL SALVADOR        801   802   808   -1   -12   161  840 (2/11/16)
 GUATEMALA          369   367   363    2    -9   67   385 (2/11/16)
 JAMAICA            488   494   491   -6   -27   39   519 (2/11/15)
 MEXICO             243   248   246   -5   -25   49   278 (2/11/16)
 PANAMA             246   244   242    2   -17   40   272 (2/11/16)
 PERU               273   277   272   -4   -13   42   291 (2/10/16)
 TRINIDAD & TOBAGO  164   166   162   -2    1    66   173 (1/15/15)
 URUGUAY            316   317   316   -1   -14   48   344 (2/11/16)
 VENEZUELA          3201  3104  3219  97   -26   409  3713 (2/12/16)
    Source: Bank of America Merrill Lynch Master Index
    
    LATAM PIPELINE:
    Peru has mandated BBVA, BNP Paribas and HSBC to arrange a global investor
call at 10:30 am London time for a euro-denominated trade. An SEC-Register
transaction may follow. Peru is rated A3/BBB+/BBB+.
    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 Michael Gambale; editing by Shankar Ramakrishnan)