26 de abril de 2016 / 20:22 / en 2 años

LATAM CLOSE-Gruposura raises US$550m in LatAm primary market

* Colombia’s Gruposura returns with upsized bond

* Bullish BlackRock says EM rally not done yet

* Cemex launches US$400m debt buyback

* Panama airport preps bond issue

By Mike Gambale and Paul Kilby

NEW YORK, April 26 (IFR) - Below is a recap of primary issuance activity in the LatAm market on Tuesday:

Number of deals priced: 1

Total volume: US$550m

GRUPOSURA FINANCE

Gruposura Finance, BBB/BBB, announced a US$540m 144A/RegS 10-year (4/29/2026) senior unsecured note offering. The active bookrunners are Bank of America and JPMorgan. The notes are guaranteed Grupo de Inversiones Suramericana. Optional redemption: Par call 3 months before maturity and make-whole redemption. UOP: Pay certain existing bank indebtedness and general corporate purposes. Settle: T+3.

IPT: 6% area

PRICE GUIDANCE: US$540m 10-year at 5.75% area (+/-10bp)

LAUNCH: US$550m (upsized from US$540m) at 5.65%

PRICED: US$550m 10-year: 98.866; 5.5%C; 5.65%Y; T+371.9bp

BOOK: US$2.9bn

NIC: 15bp (vs. 5.7% ‘21s at 5%, 5/10s curve worth 50bp, FV=5.50%)

COMPS:

5.700% May 18, 2021 at 5.00%

PIPELINE:

Panama’s Aeropuerto Internacional de Tocumen SA (AITSA) is looking to issue US$625m in 20-year bonds to finance further construction of the new South Terminal at the Tocumen International Airport outside Panama City. Citi is advising AITSA.

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

Guatemala has hired Bank of America Merrill Lynch to lead a potential international bond offering of around US$500m.

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. (Reporting By Michael Gambale; editing by Shankar Ramakrishnan)

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