LATAM CLOSE-No deals price in LatAm primary market

viernes 17 de junio de 2016 13:51 GYT
 

* Arcos Dorados hits tender target for 2023s
    * Mexico's ICA gets credit line from Fintech
    * Oi bonds jump on debt exchange terms

    By Mike Gambale and Paul Kilby
    NEW YORK, June 17 (IFR) - No deals priced in the LatAm primary market on
Friday.
    
    Here is a snapshot of LatAm sovereign credit spreads:
     SOVEREIGN       6/16  6/15  6/14  1D  10D   YTD     2015/16 HIGH
 ARGENTINA           506   498   511   8    18    -           -
 BARBADOS            653   651   655   2   -12    49    659 (2/11/16)
 BRAZIL              374   370   379   4    12   -112   542 (2/11/16)
 CHILE               115   112   113   3    15    29    143 (2/11/16)
 COLOMBIA            280   275   278   5    17    -9    412 (2/11/16)
 COSTA RICA          478   476   479   2    -7   -39    587 (2/11/16)
 DOMINICAN REP       434   432   430   2    8     19    542 (2/11/16)
 ECUADOR             967   944   924   23   55   -348   1765 (2/11/16)
 EL SALVADOR         688   680   679   8    6     48    840 (2/11/16)
 GUATEMALA           300   297   294   3    -1    -2    385 (2/11/16)
 JAMAICA             452   451   439   1    14    3     519 (2/11/15)
 MEXICO              208   205   208   3    15    14    278 (2/11/16)
 PANAMA              215   210   213   5    8     9     272 (2/11/16)
 PERU                210   207   212   3    7    -21    291 (2/10/16)
 TRINIDAD & TOBAGO   223   221   218   2    10   125    173 (1/15/15)
 URUGUAY             271   270   267   1    10    3     344 (2/11/16)
 VENEZUELA           2954  2931  2951  23   77   162    3713 (2/12/16)
    Source: Bank of America Merrill Lynch Master Index
    
    SPREAD TRENDS
    All LatAm sovereigns wider overnight
    Ten-day trend: 14 of 17 sovereigns wider
    YTD: Brazil tighter by 112bp
    
    PIPELINE
    Petrobras Argentina is preparing an up to US$500m bond sale to fund a tender
for all of its US$300m of outstanding 5.875% 2017s, according to a filing with
local regulators.
    The borrower is seeking to raise 10-year money and has mandated Citigroup
and Deutsche on the deal. The announcement comes after Pampa Energia agreed
earlier this year to purchase a 67.2% stake in Petrobras Argentina for US$892m. 

    Argentina's Province of Salta wrapped up roadshows this week after marketing
a 144A/Reg S bond transaction through Deutsche Bank and Citigroup. Ratings are
CCC+/B by S&P and Fitch.

    Mexican real-estate developer Grupo GICSA finished investor meetings this
week through JP Morgan and Santander. The company has been marketing a US dollar
bond, which is expected to be rated BB/BB-.

    Argentine sweets and biscuit company Arcor is looking to raise up to US$300m
through an up to 10-year bond sale.
    The borrower was last in the market in 2010, when it issued a US$200m
seven-year non-call four at par to yield 7.25% through leads JP Morgan and
Santander. 

    Celulosa Argentina is eyeing an up to US$250m seven-year bond sale,
according to a filing with local regulators. The pulp and paper company has been
in discussions with bankers from Citigroup and Credit Suisse about financing
options, the company said.

    Bolivia is hoping to sell an up to US$1bn 10-year bond in the coming months,
according to Economy Minister Luis Arce Catacora.
    Proceeds would go mainly towards investment in healthcare, specifically
hospitals. Bolivia is rated BB by S&P and Fitch and one notch lower at Ba3 by
Moody's.

 (Reporting by Mike Gambale; Editing by Marc Carnegie)