16 de diciembre de 2016 / 20:42 / en un año

LATAM CLOSE-No deals price this week in LatAm primary

* LatAm primary appears shut for 2016
    * Protests, looting in Venezuela as cash dries up
    * Economy, scandals hit popularity of Brazil's Temer

    By Mike Gambale
    NEW YORK, Dec 16 (IFR) - No deals priced in the LatAm primary market on
Friday.
    
    VOLUME STATISTICS FOR US DOLLAR MARKET
    
    THIS WEEK'S US$ VOLUME:
    0 tranches for US$0.00
    
    DECEMBER VOLUME:
    4 tranches for US$6.25bn
    
    YTD VOLUME:
    109 tranches for US$102.281bn
    
    Below is a snapshot of sovereign credit spreads across the region.
     SOVEREIGN      12/15  12/14   12/13  1D   10D   YTD    2015/16 HIGH
 ARGENTINA           490    482     491    8   -17    -          -
 BARBADOS            600    602     604   -2   -21    -4   659 (2/11/16)
 BRAZIL              304    293     299   11   -22   -182  542 (2/11/16)
 CHILE               69      67     70     2   -11   -17   143 (2/11/16)
 COLOMBIA            198    194     205    4   -26   -91   412 (2/11/16)
 COSTA RICA          431    425     425    6   -26   -86   587 (2/11/16)
 DOMINICAN REP       394    381     385   13   -22   -21   542 (2/11/16)
 ECUADOR             680    673     681    7   -66   -635  1765 (2/11/16)
 EL SALVADOR         520    510     525   10   -77   -120  840 (2/11/16)
 GUATEMALA           261    260     280    1   -57   -41   385 (2/11/16)
 JAMAICA             346    347     350   -1   -41   -103  519 (2/11/15)
 MEXICO              192    192     201    0   -27    -2   278 (2/11/16)
 PANAMA              166    161     169    5   -17   -40   272 (2/11/16)
 PERU                157    152     158    5   -12   -74   291 (2/10/16)
 TRINIDAD & TOBAGO   210    210     216    0   -38   112   173 (1/15/15)
 URUGUAY             227    223     227    4   -17   -41   344 (2/11/16)
 VENEZUELA          2261    2226   2215   35   -149  -531  3713 (2/12/16)
    Source: Bank of America Merrill Lynch Master Index
    
    SPREAD TRENDS
    One-day: 15 of 17 sovereigns flat to wider
    Ten-day: all sovereigns tighter
    YTD: Barbados tighter by 4bp
    YTD: Ecuador tighter by 635bp
    YTD: Mexico tighter by 2bp
    
    PIPELINE
    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.
    
    Colombian glass company Tecnoglass has wrapped up investor meetings ahead of
an up to US$225m debut dollar bond with a tenor of between five and seven years.
    Expected ratings are Ba3/BB- by Moody's and Fitch. Bank of America Merrill
Lynch and Morgan Stanley have been mandated as joint bookrunners.

 (Reporting by Mike Gambale; Editing by Marc Carnegie)

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