8 de agosto de 2016 / 21:47 / en un año

LATAM CLOSE-One issuer raises US$2.76bn in LatAm primary

* Mexico returns to dollar market with blowout trade

* JBS seeks bondholder consent for global reorganization

* Brazil antitrust regulator recommends penalizing Petrobras

By Mike Gambale and Paul Kilby

NEW YORK, Aug 8 (IFR) - Below is a recap of primary issuance activity in the LatAm primary market on Monday:

Number of deals priced: 1

Total issuance: US$2.76bn


United Mexican States (UMS), A3/BBB+/BBB+, announced a US$ benchmark SEC registered two-part senior unsecured bond sale as part of a liability management operation to redeem short-term debt. The country approached investors with initial price thoughts of T+165bp area on a tap of its 4.125% January 2026s and T+225bp area on a new long 30-year maturing in January 2047. Proceeds are going to redeem part or all of Mexico’s outstanding 5.625% 2017s. Joint bookrunners are BBVA, Bank of America Merrill Lynch and Credit Suisse. Settle: 8/11/16.

PRICE GUIDANCE: 10yr tap T+150bp area, long 30yr T+210bp area. Area is +/- 5bp

LAUNCHED: US$2.76bn two-part bond.

- US$760m tap of 4.125% 2026 at T+145bp

- US$2bn January 2047 at T+205bp

PRICED: US$2.76bn two-part bond.

- US$760m tap of 4.125% 2026: 108.831: 3.042%Y; T+145bp

- US$2bn January 2047: 99.735; 4.35%C; 4.366%Y; T+205bp

BOOK: About US$9bn



Argentina’s Province of Chaco has mandated BNP Paribas and UBS to take it on the road to market a dollar bond deal. The borrower will visit accounts in London, Boston and New York between August 4 and 9. The company is considering selling a US$250m bond with a seven-year average life. Ratings are Caa1/B by Moody’s and Fitch. (Reporting by Mike Gambale; editing by Shankar Ramakrishnan)

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