June 10, 2016 / 6:07 PM / 2 years ago

LATAM CLOSE-Two LatAm issuers price deals

* Banco do Brasil tenders for 9.25% perp

* New issues hit by oil tumble, Brexit fears

* Argentina’s Province of Salta to start roadshows

By Mike Gambale and Paul Kilby

NEW YORK, June 10 (IFR) - Below is a recap of primary issuance activity in the LatAm market on Friday:

Number of deals priced: 2

Total issuance: 1 for JPY10bn, 1 for EUR550m


Banco del Estado de Chile raised JPY10bn (US$93.59m) in the Japanese market through a 10-year bond that was priced with a 0.48% annual coupon. The deal, which was sole led by Daiwa Capital Markets, is rated A3/AA-/A+. Maturity date falls on June 17 2026.


PRICED: EUR550m. Cpn 5.125%. Ip par. Yld 5.125%. B+555bp.

ContourGlobal has set price talk on its 550m 5NC2 senior secured bond at 5.25% yield area. Books close at 10.30am.


Argentina’s Province of Salta will start roadshows next week as it looks to market a 144A/Reg S bond transaction after mandating Deutsche Bank and Citigroup. The borrower will be in London and Los Angeles on June 14 and in New York and Boston on June 15. Ratings are CCC+/B by S&P and Fitch.

Mexican real-estate developer Grupo GICSA has kicked off international roadshows to market a US dollar bond through JP Morgan and Santander.

The company will meet investors in London on June 13, in Boston on June 14 and in New York on June 15. Expected ratings are BB/BB-.

Banks are marketing a 15-year bond of around US$500m in size to finance KKR’s purchase of Pemex assets after failing to attract sufficient interest in a previous loan deal, sources told IFR.

Morgan Stanley is left-lead on the bond, which could price as soon as next week, with Credit Agricole, Mizuho and SMBC also participating as bookrunners, the sources said.

The bond is expected to fill the gap left over from a multi-tranche loan that had been expected to be US$1.35bn in size, but was reduced to US$500m amid push-back over exposure to Pemex and the broader oil and gas sector. (Reporting by Mike Gambale and Paul Kilby; Editing by Marc Carnegie)

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