LATAM CLOSE-No deals price in LatAm primary market

viernes 6 de mayo de 2016 14:31 GYT
 

* Citi exits Panama financing on Odebrecht concerns
    * Gol bondholders reject restructuring plan
    * EM funds enjoy US$1.2bn in weekly inflows: EPFR

    By Mike Gambale and Paul Kilby
    NEW YORK, May 6 (IFR) - No deals price in the LatAm primary market on
Friday.
          
    Below is a snapshot of LatAm sovereign credit spreads:    
     SOVEREIGN      5/5    5/4   5/3   1D   10D    YTD    2015/16 HIGH
 BARBADOS           657    653   651    4    13    53    659 (2/11/16)
 BRAZIL             366    368   365   -2   -15   -120   542 (2/11/16)
 CHILE               92    88     86    4    15     6    143 (2/11/16)
 COLOMBIA           277    274   267    3    22    -12   412 (2/11/16)
 COSTA RICA         490    485   479    5    26    -27   587 (2/11/16)
 DOMINICAN REP      422    422   414    0    7      7    542 (2/11/16)
 ECUADOR            996    996   966    0   -121  -319   1765 (2/11/16)
 EL SALVADOR        656    651   647    5    45    16    840 (2/11/16)
 GUATEMALA          300    295   291    5    32    -2    385 (2/11/16)
 JAMAICA            437    432   433    5    15    -12   519 (2/11/15)
 MEXICO             195    192   190    3    16     1    278 (2/11/16)
 PANAMA             198    195   193    3    16    -8    272 (2/11/16)
 PERU               197    196   194    1    11    -34   291 (2/10/16)
 TRINIDAD & TOBAGO  186    183   181    3    44    88    173 (1/15/15)
 URUGUAY            261    261   259    0    19    -7    344 (2/11/16)
 VENEZUELA          3029  3054   3036  -25   63    237   3713 (2/12/16)
    Source: Bank of America Merrill Lynch Master Index
    
    SPREAD TRENDS:
    One-day change shows 14 out of 16 sovereigns flat to wider
    Ten-day trend: 14 out of 16 sovereigns wider
    
    PIPELINE:
    Argentina's Province of Mendoza has mandated Citigroup and Credit Suisse to
take it on the road this week and next as it seeks to market a potential US
dollar 144a/RegS bond among international investors.
    The Province is looking to raise US$300m in both the local and international
markets to refinance debt, according to local reports.    
    The borrower will be in London on Friday and will head to Los Angeles on May
9, Boston on May 10 and New York on May 11. Ratings are B2/B- by Moody's and
S&P. The offering of bonds, which will by backed gas royalties, is being done in
conjunction with an exchange for outstanding 2021.
     
    Colombia's Banco de Bogota has hired banks to arrange investor meetings
ahead of a potential subordinated bond sale. Banco de Bogota is expected to
issue US$1bn through 10-year Tier 2 notes. Rated Ba2 by Moody's and BBB by
Fitch. 
    The bank has hired Credit Suisse, HSBC and JP Morgan to arrange meetings in
London, New York, Los Angeles and Boston between May 3 and May 6.        
    
    The Province of Chubut is preparing to sell an up to US$83m New York law
bond due in 2023, according to Moody's, which assigned a B3 rating to the issue
on Thursday.

 (Reporting by Mike Gambale; editing by Shankar Ramakrishnan)