LATAM CLOSE-No deals price in LatAm primary market

jueves 21 de abril de 2016 17:06 GYT
 

* Moody's upgrades Argentina corporate issuers
    * Panama cuts US$2.6bn funding agreement for Metro
    * Creditors take Invepar stake from OAS

    By Mike Gambale
    NEW YORK, April 21 (IFR) - No deals priced in the LatAm primary market on
Thursday.
    
    Here is a snapshot of LatAm sovereign credit spreads:   
     SOVEREIGN      4/20  4/19  4/18  1D   10D   YTD    2015/16 HIGH
 BARBADOS           648   654   655   -6   -15    44   659 (2/11/16)
 BRAZIL             360   364   371   -4   -65   -126  542 (2/11/16)
 CHILE               75    84    88   -9   -31   -11   143 (2/11/16)
 COLOMBIA           248   260   268   -12  -48   -41   412 (2/11/16)
 COSTA RICA         461   469   470   -8   -28   -56   587 (2/11/16)
 DOMINICAN REP      403   402   408    1   -17   -12   542 (2/11/16)
 ECUADOR            1142  1156  1194  -14  -25   -173  1765 (2/11/16)
 EL SALVADOR        606   615   625   -9   -66   -34   840 (2/11/16)
 GUATEMALA          259   268   269   -9   -32   -43   385 (2/11/16)
 JAMAICA            422   426   428   -4   -23   -27   519 (2/11/15)
 MEXICO             173   181   189   -8   -38   -21   278 (2/11/16)
 PANAMA             179   188   188   -9   -31   -27   272 (2/11/16)
 PERU               181   192   196   -11  -50   -50   291 (2/10/16)
 TRINIDAD & TOBAGO  147   154   157   -7   -18    49   173 (1/15/15)
 URUGUAY            239   248   253   -9   -35   -29   344 (2/11/16)
 VENEZUELA          2989  3038  3118  -49  -455  197   3713 (2/12/16)
    Source: Bank of America Merrill Lynch Master Index
    
    SPREAD TRENDS:
    One day change tighter except for Dom Rep
    YTD 13 out of 16 sectors tighter    
    
    PIPELINE:
    Mexican frozen food company Sigma Alimentos, rated Baa3/BBB/BBB, will start
roadshows this week through Bank of America Merrill Lynch and JP Morgan as it
seeks to market a USD 144A/RegS bond. 
    The company will be in Boston, London and Chicago on April 20, in New York
on April 21 and in New York and Los Angeles on April 22.

    Colombia's Grupo Sura has mandated Bank of America Merrill Lynch and JP
Morgan to take it on the road ahead of a possible USD 144A/RegS bond, according
to a source. The financial services company, rated BBB/BBB by S&P and Fitch, was
in London and Santiago on Tuesday, Boston and Los Angeles on Wednesday, New York
and Los Angeles on Thursday and in New York on Friday. 

    Peruvian agricultural company Camposol mandated Bank of America Merrill
Lynch and JP Morgan to manage investor meetings this week as it sought to
exchange outstanding 2017s for a new five-year senior secured note.
   Meetings wrapped up on Friday. The company launched an offer on Monday to
exchange all the outstanding 9.875% senior 2017s for a new 10.50% senior secured
2021.
    
    Banco Nacional de Costa Rica has announced roadshows through Bank of America
Merrill Lynch and JP Morgan as it looks to market a new green bond in the dollar
market.
    The state-owned bank visited accounts in New York, London, Boston and the
West Coast this week. The deal is expected to be benchmark size. The same leads
brought the issuer to market with a dual tranche US$1bn offering in late 2013.
    
    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.
    
    Argentine E&P company Medanito has wrapped up roadshows ahead of a possible
transaction through Itau and UBS. Expected rating is CCC+ by Fitch.
   
    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 Shankar Ramakrishnan)