REFILE-LATAM CLOSE-No deals price in LatAm primary market

jueves 31 de marzo de 2016 15:00 GYT
 

(Refiles to add coding)
    * Brazil central bank view worse since Dec
    * Corruption probe threatens Brazilian govt
    * Key Rousseff allies abandoning ship
    * Argentina Senate approves creditors plan

    By Mike Gambale
    NEW YORK, March 31 (IFR) - No deals priced in LatAm primary market on
Thursday.
    
    Here is a snapshot of LatAm sovereign credit spreads:        
     SOVEREIGN      3/30  3/29  3/28  1D   10D  YTD    2015/16 HIGH
 BARBADOS           648   651   647   -3    9    44   659 (2/11/16)
 BRAZIL             378   390   390   -12  -54  -108  542 (2/11/16)
 CHILE               98   102    95   -4    8    12   143 (2/11/16)
 COLOMBIA           275   283   277   -8   -27  -14   412 (2/11/16)
 COSTA RICA         492   497   495   -5   -17  -25   587 (2/11/16)
 DOMINICAN REP      429   437   431   -8   -12   14   542 (2/11/16)
 ECUADOR            1155  1178  1153  -23  -38  -160  1765 (2/11/16)
 EL SALVADOR        664   664   657    0   -8    24   840 (2/11/16)
 GUATEMALA          297   295   300    2   -8    -5   385 (2/11/16)
 JAMAICA            455   457   452   -2   -8    6    519 (2/11/15)
 MEXICO             196   201   195   -5   -5    2    278 (2/11/16)
 PANAMA             197   199   193   -2   -5    -9   272 (2/11/16)
 PERU               215   222   220   -7   -1   -16   291 (2/10/16)
 TRINIDAD & TOBAGO  153   153   146    0   -29   55   173 (1/15/15)
 URUGUAY            265   269   265   -4   -4    -3   344 (2/11/16)
 VENEZUELA          3089  3116  3054  -27  118  297   3713 (2/12/16)
    Source: Bank of America Merrill Lynch Master Index
    
    SPREAD TRENDS
    One-day change shows most LatAm spreads tighter
    Eight out of 16 LatAm sovereign credits tighter YTD
    
    LATAM PIPELINE
    Brazil could issue again this year if conditions allow, the treasury's
interim debt coordinator Leandro Secunho said: "There is no need for new (global
bond) sales, but if we see new windows of opportunity we will consider
reentering the market."
    The sovereign sold a US$1.5bn 2026 dollar-denominated bond on March 10,
tapping global markets for the first time since it lost its investment-grade
rating.
    
    Argentina named BBVA, Citigroup, Deutsche Bank, HSBC, JP Morgan, Santander
and UBS as joint bookrunners for a possible bond sale, a source familiar with
the matter told IFR.
    Timing and currency not yet certain, but the deal could come in early April.
    Barring objections from Congress, the sovereign is likely to try to issue up
to US$15bn of bonds to help pay litigant investors.
     
    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.
    
    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. 
    
    Neuquen province 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, held 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. 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.    

 (Reporting by Michael Gambale; Editing by Marc Carnegie)