13 de octubre de 2016 / 20:57 / en un año

LATAM CLOSE-One issuer raises US$550m in LatAm primary

* Panama’s Global Bank returns to market

* PDVSA bonds slip after debt swap deadline extended again

* Pemex offers three tiers on US$1.25bn revolver

By Mike Gambale and Paul Kilby

NEW YORK, Oct 13 (IFR) - Below is a recap of primary issuance activity in the Latam primary market on Thursday:

Number of deals priced: 1

Total issuance volume: US$550m


Global Bank Corp (GLBACO), BBB-/BBB-, announced a US$ benchmark 144A/RegS 5-year senior unsecured notes. Citigroup, Deutsche Bank and JP Morgan are active bookrunners. Co-managers: MIZ, UBS. UOP: debt refinancing, GCP.

IPTs: T+mid 300s

PRICE GUIDANCE: T+337.5bp (+/- 12.5bp)

LAUNCH: US$550m at T+325bp

PRICED: US$550m 5-year: 99.942; 4.5%C; 4.513%Y; T+325bp - Settlement 10/20/16; Maturity: 10/20/21

BOOK: US$1.4bn


LATAM Airlines Group S.A. (“LATAM”, NYSE: LFL), a Chile-based airline group, mandated Citi and J.P. Morgan as global coordinators and joint bookrunners and BNPP, BofAML, Deutsche Bank, and Santander as joint bookrunners to arrange a series of fixed income investor meetings in Chile, Europe, and the US commencing on October 12. A USD-denominated benchmark 144A/Reg S 7-year offering is expected to follow, subject to market conditions.

Meeting schedule as follows: October 12, Santiago; October 14, Los Angeles; October 17, London; October 18, Boston; October 19, New York.

Nafin, a Mexican development bank, has wrapped up roadshows, as it looks to market a potential US dollar bond through Bank of America Merrill Lynch and HSBC. The issuer is rated A3/BBB+/BBB+.

The Republic of Suriname (B1/B+/B+) is continuing to roadshow this week for a potential debut 144A/Reg S bond offering.

The borrower was on the mid-Atlantic coast on Thursday and will head to the West Coast on October 14. Roadshows will finish in New York on October 17 and 18. Oppenheimer and Scotiabank have been mandated to organize the meetings. (Reporting by Mike Gambale and Paul Kilby; Editing by Shankar Ramakrishnan)

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