October 28, 2016 / 5:41 PM / 2 years ago

LATAM CLOSE-One issuer raises US$500m in LatAm primary

* Bogota prices US$500m tap inside guidance

* Province of Entre Rios to start roadshows next week

* Venezuela’s PDVSA pays off US$1bn 2016 bond

By Mike Gambale and Paul Kilby

NEW YORK, Oct 28 (IFR) - Below is a recap of primary issuance activity in the LatAm market on Friday:

Number of deals priced: 1

Total issuance volume: US$500m


Banco de Bogota SA, issue rating Ba2/BBB-, announced a US$ tap of the 6.25% 5/12/2026 subordinated tier 2 notes. The active bookrunners are Credit Suisse, HSBC and JPMorgan.

IPTs: 6.25% area

GUIDANCE: 6.125% (+/-1/8)

LAUNCH: US$500m at 5.95%

PRICED: US$500m tap of 6.25% 5/12/2026. At 102.155, yld 5.95%.

BOOK: US$1.15bn


3 tranches for US$1.35bn


11 tranches for US$5.765bn


102 tranches for US$95.146bn


Argentina’s Province of Entre Rios will start roadshows next week ahead of a possible US dollar bond. The borrower will be in London on October 31, in Boston on November 1 and in New York on November 2. Citigroup, HSBC and Santander will organize investor meetings. Expected ratings are B-/B by S&P and Fitch.

Argentina’s Banco Macro (B3/-/B) mandated Goldman Sachs and UBS as joint books and Macro Securities as local placement agent for investor meetings that began October 25.

An up to US$400m 144A/Reg S Basel III-compliant T2 ten-year noncall five, rated Caa1 by Moody’s and B- by Fitch, may follow.

Roadshow: Oct 25 (London), Oct 26 (New York), Oct 27 (Boston), Oct 28 (Los Angeles), Oct 31 (New York).

Argentina’s Compania General de Combustibles has started roadshows to market a possible US dollar bond through Bank of America Merrill Lynch, Citigroup and Itau.

Roadshow: Oct 25 (London), Oct 26 (New York), Oct 27 (Boston), Oct 28 (New York). Expected ratings B-/B by S&P and Fitch. (Reporting by Mike Gambale; Editing by Paul Kilby)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below