* Colombia's Tecnoglass debuts below size target
* EM debt gains vulnerable to reversal: Nomura
* BAML expects Banxico rates hike to 7% by year-end
By Mike Gambale and Paul Kilby
NEW YORK, Jan 23 (IFR) - Below is a recap of primary issuance activity in the LatAm primary market on Monday:
Number of deals priced: 1
Total issuance volume: US$210m
Colombian glass company Tecnoglass has announced an up to US$225m five-year non-call three bond ahead of expected pricing on Monday. Bank of America Merrill Lynch and Morgan Stanley have been mandated as joint bookrunners on the 144A/RegS deal, which is expected to be rated Ba3/BB-. The Nasdaq-listed company manufacturers high-spec glass and windows for commercial and residential construction markets.
IPTs mid 8%
LAUNCH: Colombia's Tecnoglass US$210m 5NC3 at 8.5%
PRICED: US$210m 5NC3: 98.798; 8.2%C; 8.5%Y Settlement Jan 30 2017, Maturity: Jan 31 2022
Aeropuertos Argentina 2000 is preparing an up to US$400m 10-year bond issue, according to a local filing.
The airport operator has mandated Morgan Stanley and Oppenheimer & Co as international leads, with Macro Securities coming in as a local placement agent.
Moody's has assigned a B2 rating to the senior secured notes. Proceeds are going toward redeeming about US$182m in outstanding debt and capital expenditures.
Brazilian aerospace company Embraer has picked banks to take it on the road as it looks to market a benchmark-size USD 10-year bond to international investors.
The issuer, rated BBB/BBB-, was in Boston, London and Los Angeles on Monday, and will head to New York and Chicago on Tuesday. Embraer Netherlands Finance BV will act as issuer on the SEC registered deal. BB Securities, JP Morgan and Santander have been mandated to organize investor meetings.
Fitch has assigned a B- rating to a US$100m reopening of a 9.5% senior unsecured 2023 note issued by Compania Latinoamericana de Infraestructura y Servicios (CLISA).
The Argentine infrastructure firm issued US$200m of the notes in July last year, but fell short of the US$300m target size. At the time, the seven-year non-call four bonds were priced at 98.753 to yield 9.75%.
BCP Securities and Santander acted as leads on the last deal, which was rated B-/B-.
Power generation company AES Argentina has hired Credit Suisse, Itau BBA and JP Morgan to arrange a series of investor meetings ahead of a potential US dollar-denominated bond offering.
Meetings will took place in New York and Boston on Monday0, and will continue in Los Angeles and London on Tuesday. The roadshow will wrap up with investor calls in New York on January 25.
A US dollar-denominated 144A/Reg S benchmark senior unsecured bond offering with intermediate maturity is expected to follow, subject to market conditions.
The Central America Bottling Corporation (CBC) started roadshows on Thursday to market a possible US dollar denominated 144A/RegS offering.
The company was in Boston and Los Angeles on Monday and will wrap up roadshows in New York on Tuesday.
CBC may also announce a RegS transaction denominated in Peruvian soles. Citigroup and JP Morgan have been mandated to arrange meetings.
It has also launched a cash tender for its outstanding 6.75% 2022 notes. Holders who tender by the expiration date of January 25 will receive US$1,036.55 per US$1,000 in principal.
The company, rated Ba2/BB/BB+, is a beverage producer, distributor and marketer in Central America and the Caribbean, as well as Ecuador and Peru.
Brazilian power company Neoenergia is considering a possible US dollar bond debut this year after sending out requests for proposals in late 2016, two market sources told IFR.
Neoenergia Group's principal shareholders are Banco do Brasil's pension fund Previ, with a 49.01% stake, and Spain's Iberdrola with a 39% stake, according to the company's website.
Paraguay is considering raising up to US$550m in the bond market in March, Reuters quoted Finance Minister Santiago Pena saying.
Inversiones Atlantida, the largest financial group in Honduras, has finished roadshows to market a potential debut US dollar bond through Oppenheimer. Expected ratings are B/B by S&P and Fitch.
Argentina's Province of Entre Rios has finished roadshows ahead of a possible US dollar bond. Citigroup, HSBC and Santander organized investor meetings. Expected ratings are B-/B by S&P and Fitch. (Reporting by Mike Gambale; Editing by Paul Kilby)