LATAM CLOSE-No deals price in LatAm primary market

viernes 20 de mayo de 2016 13:50 GYT
 

* Mexico's Rassini picks Goldman for roadshows
    * Brazil's Marfrig to meet investors
    * Brazil stocks rise on appointment of new Petrobras CEO

    By Mike Gambale and Paul Kilby
    NEW YORK, May 20 (IFR) - No deals priced in the LatAm primary market on
Friday.
    
    Below is a snapshot of LatAm sovereign credit spreads:    
     SOVEREIGN       5/19  5/18  5/17  1D  10D  YTD    2015/16 HIGH
 ARGENTINA           502   483   481   19  -22   -          -
 BARBADOS            650   645   653   5   -7    46   659 (2/11/16)
 BRAZIL              368   349   347   19   6   -118  542 (2/11/16)
 CHILE                94    82    91   12   5    8    143 (2/11/16)
 COLOMBIA            277   258   260   19   5   -12   412 (2/11/16)
 COSTA RICA          489   479   486   10   3   -28   587 (2/11/16)
 DOMINICAN REP       420   405   410   15  -2    5    542 (2/11/16)
 ECUADOR             919   908   917   11  -67  -396  1765 (2/11/16)
 EL SALVADOR         672   659   662   13  19    32   840 (2/11/16)
 GUATEMALA           297   290   302   7   -2    -5   385 (2/11/16)
 JAMAICA             430   424   434   6   -5   -19   519 (2/11/15)
 MEXICO              200   188   189   12  10    6    278 (2/11/16)
 PANAMA              208   197   201   11  11    2    272 (2/11/16)
 PERU                209   189   195   20  12   -22   291 (2/10/16)
 TRINIDAD & TOBAGO   170   166   182   4   -13   72   173 (1/15/15)
 URUGUAY             264   251   252   13   5    -4   344 (2/11/16)
 VENEZUELA           2967  2908  2885  59  16   175   3713 (2/12/16)
    Source: Bank of America Merrill Lynch Master Index
    
    SPREAD TRENDS:
    All sovereigns tighten overnight
    Ten-day trend shows 7 out of 17 sovereign spreads tighter
    Ecuador tightest YTD
    
    PIPELINE:
    Brazilian beef company Marfrig has mandated BB Securities, Bradesco, HSBC,
Morgan Stanley and Santander to arrange investor meetings for next week. The
company, rated B2/B+/B+, will be in London on May 23 and will head to New York
and Boston on May 24.
    
    Automotive parts manufacturer Rassini has mandated Goldman Sachs to take it
on the road to meet investors next week in the US.
    The company will be in New York on May 23, in Boston on May 24 and in Los
Angeles on May 25. The company is rated BB- by S&P, while its main operating
subsidiary Rassini Automotriz carries a Ba2 rating from Moody's
    
    City of Buenos Aires is roadshowing a new 144A/RegS dollar bond to finance a
debt tender. The issuer is looking to raise up to US$890m through a senior
unsecured 10-year bond, according to Fitch, which has assigned a B rating to the
deal.
    The borrower will wrap up return to New York on May 23. Proceeds will be
used to help fund an up to US$390m tender for its 9.95% Series 10 due 2017
notes. The outstanding amount is US$415m. Investors will be paid 105.5. Merrill
Lynch, Pierce, Fenner & Smith, Deutsche Bank and HSBC are acting as leads and
dealer mangers.

    Goldman Sachs is on the road marketing a US$500m financing package for
Colombian road project Costera. 
    The borrower is looking at dollar bonds as well as inflation-linked peso
bonds and loans, according to Fitch, which assigned a BBB- rating to the notes.

 (Reporting by Mike Gambale; editing by Shankar Ramakrishnan)