BAHAMA BRIEFS-Rundown from IDB Annual Meeting 2016
By Paul Kilby and Davide Scigliuzzo
NASSAU, April 7 (IFR) - Argentina was foremost on bankers' minds at the annual IDB meetings in the Bahamas on Thursday after the South American country announced roadshows for a much-awaited jumbo bond sale.
Borrowers across the region have been timing new issues around Argentina's first bond offering in 15 years, potentially the largest such transaction seen out of emerging markets.
Issuers have either pulled the trigger well ahead of the mega trade or they are simply waiting to assess the impact on the market of a deal that is expected to be US$12bn or more in size.
"We had a sense a transaction that large would have an impact," Paraguay's Finance Minister Santiago Pena Palacios told IFR on the sidelines of the conference. "We were monitoring the Congressional progress in Argentina."
Paraguay was the last Latin American country to issue a sovereign bond this year, when it raised US$600m in March.
The IDB kicks off its annual meeting amid an improving but still cautious outlook for Latin America after fears of a US recession and lower oil prices sparked a steep sell-off earlier the year. Continuación...