31 de octubre de 2016 / 19:02 / hace 10 meses

LATAM CLOSE-No deals price in LatAm primary market

* Mexico grows at fastest pace in over two years in third quarter
    * Fitch warns on decree to give Ecuador flexibility on larger deficits
    * Itau shares leap on better-than-expected results
    * Argentines weigh tax amnesty as first deadline looms

    By Mike Gambale and Paul Kilby
    NEW YORK, Oct 31 (IFR) - No deals priced in the LatAm primary market on
Monday.
    
    Below is a snapshot of LatAm sovereign credit spreads:
     SOVEREIGN      10/28  10/27  10/26  1D   10D    YTD    2015/16 HIGH
 ARGENTINA           428    432    425   -4   -22     -          -
 BARBADOS            614    615    621   -1   -11    10    659 (2/11/16)
 BRAZIL              283    284    281   -1    -6   -203   542 (2/11/16)
 CHILE               75     73     74     2    6     -11   143 (2/11/16)
 COLOMBIA            210    206    204    4    1     -79   412 (2/11/16)
 COSTA RICA          385    381    380    4    -1   -132   587 (2/11/16)
 DOMINICAN REP       371    363    355    8    9     -44   542 (2/11/16)
 ECUADOR             754    755    751   -1   -40   -561   1765 (2/11/16)
 EL SALVADOR         473    470    475    3   -30   -167   840 (2/11/16)
 GUATEMALA           240    242    243   -2    -4    -62   385 (2/11/16)
 JAMAICA             365    361    358    4    -5    -84   519 (2/11/15)
 MEXICO              183    173    169   10    16    -11   278 (2/11/16)
 PANAMA              152    148    149    4    3     -54   272 (2/11/16)
 PERU                144    139    140    5    6     -87   291 (2/10/16)
 TRINIDAD & TOBAGO   214    214    217    0    2     116   173 (1/15/15)
 URUGUAY             210    213    212   -3    -7    -58   344 (2/11/16)
 VENEZUELA          2376   2364   2297   12    50   -416   3713 (2/12/16)
    Source: Bank of America Merrill Lynch Master Index
    
    SPREAD TRENDS:
    One-day change mixed
    Ten-day trend split, 9 out of 17 sovereigns tighter
    YTD: Brazil tighter by 203bp
    YTD: Ecuador tighter by 561bp
    YTD: Panama tighter by 54bp
    
    PIPELINE
    Argentina's Province of Entre Rios started roadshows this week ahead of a
possible US dollar bond. The borrower was in London on Monday and will head to
Boston on November 1 and 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)was scheduled to finish roadshows in New
York on Monday. 
    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. 
    The bank has mandated Goldman Sachs and UBS as joint books and Macro
Securities as local placement agent.
    
    Argentina's Compania General de Combustibles was expected to finish
investors meetings on Monday ahead of a possible US dollar bond through Bank of
America Merrill Lynch, Citigroup and Itau.

 (Reporting by Mike Gambale; Editing by Paul Kilby)

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