LATAM CLOSE-No new deals in primary market on Friday
* LatAm assets ease as Fed official urges rate hike * Mexico's Coke Femsa to buy Brazil's Vonpar in US$1.1bn deal * EM debt continues to enjoy inflows By Mike Gambale and Paul Kilby NEW YORK, Sept 23 (IFR) - No deals priced in the LatAm primary market on Friday. VOLUME STATISTICS THIS WEEK'S (US$) VOLUME: 6 tranches for US$4.05bn SEPT VOLUME: 9 tranches for US$9.05bn YTD VOLUME: 84 tranches for US$82.773bn Here is a snapshot of LatAm sovereign spreads: SOVEREIGN 9/22 9/21 9/20 1D 10D YTD 2015/16 HIGH ARGENTINA 410 416 429 -6 -26 - - BARBADOS 644 644 642 0 -1 40 659 (2/11/16) BRAZIL 283 291 302 -8 -2 -203 542 (2/11/16) CHILE 73 79 77 -6 9 -13 143 (2/11/16) COLOMBIA 200 211 217 -11 -5 -89 412 (2/11/16) COSTA RICA 380 387 391 -7 0 -137 587 (2/11/16) DOMINICAN REP 341 358 360 -17 -4 -74 542 (2/11/16) ECUADOR 866 877 896 -11 -14 -449 1765 (2/11/16) EL SALVADOR 474 484 493 -10 23 -166 840 (2/11/16) GUATEMALA 240 246 241 -6 5 -62 385 (2/11/16) JAMAICA 381 380 380 1 3 -68 519 (2/11/15) MEXICO 172 176 179 -4 11 -22 278 (2/11/16) PANAMA 148 162 166 -14 -5 -58 272 (2/11/16) PERU 144 157 161 -13 -2 -87 291 (2/10/16) TRINIDAD & TOBAGO 221 218 217 3 17 123 173 (1/15/15) URUGUAY 213 223 222 -10 11 -55 344 (2/11/16) VENEZUELA 2258 2338 2418 -80 -192 -534 3713 (2/12/16) Source: Bank of America Merrill Lynch Master Index SPREAD TRENDS: One-day change mostly tighter Ten-day trend 10 out of 17 sovereigns flat to tighter YTD: Barbados wider by 40bp YTD: Ecuador tighter by 449bp YTD: Panama tighter by 58bp PIPELINE: Ouro Verde Locacao e Servicio, rated BB-/BB-, announced a US$300m 5NC3. The Brazilian company leases heavy equipment, machinery and fleets of light vehicles. Bradesco, Santander and Scotiabank are acting as joint bookrunners. The senior unsecured bond is expected to be listed in Luxembourg. IPTS: low-to-mid 8% Mexican retailer Liverpool has selected banks to take it on roadshows to market a possible 10-year bond to international investors. The borrower will be in London and Los Angeles on September 26, in Boston and New York on September 27 and in New York again on September 28. Citigroup, Credit Suisse and Morgan Stanley have been mandated on the deal. Mexican bank Banorte will kick off roadshows next week to market a Tier 2 Basel III compliant bond to international investors. The borrower will be London and Los Angeles on September 26 and in New York and Boston on September 27. The bank is eyeing either a 15NC10 or a 10NC5 bond. Ratings on the sub debt are expected to be Ba1/BB+, while the bank itself is rated A3/BBB+/BBB+. Bank of America Merrill Lynch, JP Morgan and Morgan Stanley have been mandated on the deal. The Republic of Argentina is planning a dual-tranche, benchmark sized euro denominated bond issue, according to a lead. The sovereign has mandated BBVA, BNP Paribas and Credit Suisse to arrange a series of fixed income investors meetings in Europe commencing on September 26. The issuer is rated B3/B-. The Republic of Peru has finished roadshows in the US and Europe to market a local currency bond sale to international investors. Fixed-income investor meetings took place between September 19 and 23, stopping in New York, Los Angeles, Boston, London and Frankfurt. BBVA, Bank of America Merrill Lynch and HSBC have been mandated to arrange the meetings. Ratings are A3/BBB+/BBB+. Mexico's Banco Inbursa has finished marketing a new US dollar 10-year senior unsecured bond, which is expected to be rated BBB+/BBB+. Bank of America Merrill Lynch, Citigroup and Credit Suisse have been mandated as leads. JSL, a logistics services provider operating in Brazil, has wrapped up roadshows on a possible 144A/Reg S senior unsecured US dollar bond. BB Securities, Bradesco BBI, Morgan Stanley and Santander have been mandated on the deal. Ratings are BB/BB by S&P and Fitch. Votorantim Cimentos (rated Ba2 /BB+/BBB-) has mandated Banco Votorantim, BofA Merrill Lynch, Citigroup, HSBC, JP Morgan and Santander to arrange a series of fixed income investor meetings in Europe and the United States. A benchmark USD144A/Reg S senior notes offering with intermediate maturity may follow, subject to market conditions and results of a concurrent tender offer. The roadshow took place in Switzerland on September 22 and in London on September 23. The tender is for cash and is targeting the following outstanding EUR notes: EUR559.7m 3.250% 2021s. Brazilian corporate Ultrapar will start roadshows next week to market a possible RegS senior unsecured US dollar bond. The company representatives will be in Boston and London on September 26, Los Angeles and New York on September 27 and in New York again on September 28. BB Securities, Bradesco BBI, Morgan Stanley and Santander have been mandated to organize investor meetings. Ratings are Ba1/BB+. Ultrapar is involved in specialized distribution and retail, specialty chemicals and liquid bulk storage. (Reporting by Mike Gambale and Paul Kilby; Editing by Shankar Ramakrishnan)
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