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LATAM CLOSE-No deals price in LatAm primary market
January 3, 2017 / 8:52 PM / 10 months ago

LATAM CLOSE-No deals price in LatAm primary market

* Brazilian bankruptcy filings at 11-year high: Experian
    * Argentina treasury minister to propose broad tax reform: La Nacion
    * Brazil's Fibria raises R$1.25bn from CRA issue
    * Ford cancels US$1.6bn Mexico plant after Trump criticism

    By Mike Gambale
    NEW YORK, Jan 3 (IFR) - No deals priced in the LatAm primary market on
Tuesday.
    
    Here is how the region's sovereign credit spreads ended 2016.
     SOVEREIGN      12/30  12/29  12/28  1D  10D   2015/16 HIGH
 ARGENTINA           426    428    429   -2  -54        -
 BARBADOS            643    639    637   4   46   659 (2/11/16)
 BRAZIL              302    299    297   3    0   542 (2/11/16)
 CHILE               84     80     75    4   15   143 (2/11/16)
 COLOMBIA            199    199    197   0    4   412 (2/11/16)
 COSTA RICA          439    434    432   5    9   587 (2/11/16)
 DOMINICAN REP       395    392    390   3    1   542 (2/11/16)
 ECUADOR             654    656    665   -2  -19  1765 (2/11/16)
 EL SALVADOR         521    521    516   0    7   840 (2/11/16)
 GUATEMALA           262    260    255   2    3   385 (2/11/16)
 JAMAICA             363    359    357   4   19   519 (2/11/15)
 MEXICO              201    197    197   4   10   278 (2/11/16)
 PANAMA              181    178    175   3   18   272 (2/11/16)
 PERU                167    162    160   5   11   291 (2/10/16)
 TRINIDAD & TOBAGO   220    213    215   7   13   173 (1/15/15)
 URUGUAY             232    226    224   6    8   344 (2/11/16)
 VENEZUELA          2294   2291   2279   3   63   3713 (2/12/16)
    Source: Bank of America Merrill Lynch Master Index
           
    PIPELINE 
    Argentina's Finance Minister Luis Caputo said last month that the
administration was considering tapping the debt markets in January, according to
Reuters. The country needs US$22bn of debt financing this year, plus an
additional US$21bn for refinancing needs, he said.
    
    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 Paul Kilby and Marc Carnegie)

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