LATAM CLOSE-No deals price in LatAm primary market
* Argentina to sell US$11.68bn of 5, 10 and 30-year bonds * Brazil assets rally as former president questioned by police * Argentina's IRSA launches debt buyback * YPF eyes single global debt offering in 2016 By Mike Gambale NEW YORK, March 4 (IFR) - No deals priced in the LatAm primary market on Friday. Here is a snapshot of LatAm sovereign credit spreads: SOVEREIGN 3/3 3/2 3/1 1D 10D YTD 2015/16 HIGH BARBADOS 648 645 644 3 -7 44 659 (2/11/16) BRAZIL 434 458 457 -24 -70 -52 542 (2/11/16) CHILE 88 90 93 -2 -29 2 143 (2/11/16) COLOMBIA 312 326 327 -14 -49 23 412 (2/11/16) COSTA RICA 525 536 537 -11 -50 8 587 (2/11/16) DOMINICAN REP 446 448 449 -2 -60 31 542 (2/11/16) ECUADOR 1403 1382 1376 21 -163 88 1765 (2/11/16) EL SALVADOR 647 638 662 9 -154 7 840 (2/11/16) GUATEMALA 332 333 335 -1 -37 30 385 (2/11/16) JAMAICA 476 473 470 3 -12 27 519 (2/11/15) MEXICO 212 215 215 -3 -31 18 278 (2/11/16) PANAMA 200 200 199 0 -46 -6 272 (2/11/16) PERU 230 230 233 0 -43 -1 291 (2/10/16) TRINIDAD & TOBAGO 189 187 156 2 25 91 173 (1/15/15) URUGUAY 274 273 275 1 -42 6 344 (2/11/16) VENEZUELA 2981 2979 3114 2 -220 189 3713 (2/12/16) Source: Bank of America Merrill Lynch Master Index SPREAD TRENDS: Brazil tightens most, by 24bp in a day. Ten-day trend shows El Salvador, Ecuador and Venezuela tightened the most LATAM PIPELINE: Argentina will sell US$11.68bn worth of 5-, 10- and 30-year bonds under U.S. law in mid April if Congress swiftly approves a debt deal for holdout creditors, top finance ministry officials told Congress on Friday. Finance Secretary Luis Caputo told lawmakers who will debate the debt agreement that the bonds would carry an interest rate in the region of 7.5 percent. Colombia has mandated BBVA, Goldman Sachs and JP Morgan to organize meeting with fixed-income investors in Europe to discuss opportunities in the capital markets this year. Finance Minister Mauricio Cardenas will attend the meetings, which start on March 8 in London. Discussions continue in Germany on March 9, the Netherlands on March 10 and in London again on March 11. Ratings are Baa2/BBB/BBB (stable/negative/stable) by Moody's, S&P and Fitch. The Province of Buenos Aires will start fixed-income investor meetings this week in Europe and the U.S. as it seeks to market a potential US dollar bond. The issuer has mandated Citigroup, HSBC and JP Morgan to take it on the road and is scheduled to visit investors in London on March 4, New York on March 7 and Boston and Los Angeles on March 8. Ratings are Caa2/B-/B- (positive/stable/stable). It could be an up to US$500m deal and could carry a yield of between 9%-9.5%. The board of Argentine real estate developer IRSA has approved the issuance of up to US$470m of debt, according to a filing with local regulators. 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. Fomento Economico Mexicano, S.A.B. de C.V. ("FEMSA"), rated A- and A by S&P and Fitch, respectively, has mandated BBVA, Credit Suisse and Deutsche Bank to arrange a series of fixed income investor meetings in Europe. The investor meetings are expected to take place in the week commencing 7th March 2016. A euro-denominated bond transaction may follow subject to market conditions. (Reporting By Michael Gambale; editing by Shankar Ramakrishnan)
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