19 de abril de 2016 / 21:12 / en 2 años

LATAM CLOSE-Argentina prices historic US$16.5bn 4-part bond

* Argentina breaks records with US$16.5bn bond sale

* Argentina bonds soar in grey market

* Pacific Exploration cuts restructuring deal with Catalyst

* Sigma picks banks for US dollar bond

* Grupo Sura to roadshow with BAML and JP Morgan

By Mike Gambale and Paul Kilby

NEW YORK, April 19 (IFR) - Below is a recap of primary issuance activity in the LatAm market on Tuesday:

Number of deals priced: 1

Total volume: US$16.5bn


The Republic of Argentina, exp rating B3/B-, announced a US$ benchmark 144A/RegS (w/ reg rights) 4-part senior unsecured offering that includes a 3-year, 5-year, 10-year and 30-year. Global Coordinators: Deutsche Bank (B&D), HSBC, JPMorgan and Santander. Joint Bookrunners: BBVA, Citigroup and UBS. UOP: To settle claims of holders of Untendered Debt of the Republic that have agreed to settle with the Republic and the balance will be used for general purposes of the Government. Settle: 4/22/2016.

IPTs: 3yr: 6.75% area, 5yr: 10yr - 50bp, 10yr: 8.0% area, 30yr: 10yr + 85bp

PRICE GUIDANCE: 3yr 6.25-6.50%, 5yr 6.875-7.125%, 10yr 7.50-7.625%, 30yr 8.0% (#)

LAUNCH: US$16.5bn 4-part. US$2.75bn 3yr at 6.25%, US$4.5bn 5yr at 6.875%, US$6.5bn 10yr at 7.50%, US$2.75bn 30yr at 8.0%

PRICED: US$16.5bn 4-part total.

- US$2.75bn 6.25% cpn 3yr (4//22/2019). At 100, yld 6.25%

- US$4.5bn 6.875% cpn 5yr (4/22/21). At 100, yld 6.875%

- US$6.5bn 7.50% cpn 10yr (4/22/26). At 100, yld 7.50%

- US$2.75bn 7.625% cpn 30yr (4/22/46). At 95.758, yld 8.0%.

BOOK: US$68bn


Mexican frozen food company Sigma Alimentos, rated Baa3/BBB/BBB, will start roadshows this week through Bank of America Merrill Lynch and JP Morgan as it seeks to market a USD 144A/RegS bond. The company will be in Boston, London and Chicago on April 20, in New York on April 21 and in New York and Los Angeles on April 22.

Colombia’s Grupo Sura has mandated Bank of America Merrill Lynch and JP Morgan to take it on the road ahead of a possible USD 144A/RegS bond, according to a source. The financial services company, rated BBB/BBB by S&P and Fitch, was in London and Santiago on Tuesday, Boston and Los Angeles on Wednesday, New York and Los Angeles on Thursday and in New York on Friday.

Peruvian agricultural company Camposol mandated Bank of America Merrill Lynch and JP Morgan to manage investor meetings this week as it sought to exchange outstanding 2017s for a new five-year senior secured note.

Meetings wrapped up on Friday. The company launched an offer on Monday to exchange all the outstanding 9.875% senior 2017s for a new 10.50% senior secured 2021.

Banco Nacional de Costa Rica has announced roadshows through Bank of America Merrill Lynch and JP Morgan as it looks to market a new green bond in the dollar market.

The state-owned bank visited accounts in New York, London, Boston and the West Coast this week. The deal is expected to be benchmark size. The same leads brought the issuer to market with a dual tranche US$1bn offering in late 2013.

The Province of Mendoza is looking to raise US$300m in both the local and international markets to refinance debt, according to local reports.

Neuquen province is contemplating a bond issue.

Argentine E&P company Medanito has wrapped up roadshows ahead of a possible transaction through Itau and UBS. Expected rating is CCC+ by Fitch.

Argentina utility Pampa Energia’s shareholders have approved a US$500m debt program.

Uruguay plans to raise up to US$1.5bn in bonds this year. (Reporting By Michael Gambale; editing by Shankar Ramakrishnan)

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