December 12, 2016 / 9:39 PM / 8 months ago

LATAM CLOSE-No deals price in LatAm primary market

* No new deals announced Monday
    * Ecuador new 9.65% 2022s at 100.25-101.25
    * Argentine peso hits all-time low 16.1 per USD
    * Brazil's Temer plans economic stimulus

    By Mike Gambale
    NEW YORK, Dec 12 (IFR) - No deals priced in the LatAm primary market on
Monday.
        
    Below is a snapshot of sovereign credit spreads across the region:
      SOVEREIGN        12/9  12/8  12/7  1D   10D   YTD     2015/16 HIGH
 ARGENTINA             467   464   462    3    -1    -           -
 BARBADOS              604   610   616   -6   -15    0     659 (2/11/16)
 BRAZIL                303   307   309   -4    -2   -183   542 (2/11/16)
 CHILE                  69    76    79   -7   -10   -17    143 (2/11/16)
 COLOMBIA              208   210   211   -2   -23   -81    412 (2/11/16)
 COSTA RICA            422   425   435   -3   -11   -95    587 (2/11/16)
 DOMINICAN REP         383   394   398   -11  -16   -32    542 (2/11/16)
 ECUADOR               700   712   708   -12  -55   -615   1765 (2/11/16)
 EL SALVADOR           536   547   546   -11  -63   -104   840 (2/11/16)
 GUATEMALA             285   293   302   -8   -12   -17    385 (2/11/16)
 JAMAICA               354   364   369   -10  -41   -95    519 (2/11/15)
 MEXICO                202   201   201    1   -17    8     278 (2/11/16)
 PANAMA                167   168   167   -1   -13   -39    272 (2/11/16)
 PERU                  155   158   159   -3   -12   -76    291 (2/10/16)
 TRINIDAD & TOBAGO     221   227   232   -6   -30   123    173 (1/15/15)
 URUGUAY               227   231   237   -4   -12   -41    344 (2/11/16)
 VENEZUELA             2266  2284  2282  -18  -167  -526   3713 (2/12/16)
    Source: Bank of America Merrill Lynch Master Index
    
    SPREAD TRENDS:
    One-day change 15 out of 17 sovereigns tighter
    Ten-day trend all sovereigns tighter
    YTD: Barbados flat
    YTD: Ecuador tighter by 615bp
    YTD: Mexico wider by 8bp
    
    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 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