December 2, 2016 / 7:11 PM / a year ago

LATAM CLOSE-LatAm primary sees zero deals this week

* Braskem shares jump as deal in graft probe seen imminent
    * Moody's upgrades Chile's SMU to B3 from Caa1
    * Brazilian Real seesaws as CenBank offsets political risks

    By Mike Gambale
    NEW YORK, Dec 2 (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
    
    NOVEMBER VOLUME:
    3 tranches for US$885m
    
    YTD VOLUME:
    105 tranches for US$96.031bn 
    
    Below is a snapshot of sovereign credit spreads across the region:    
     SOVEREIGN       12/1  11/30  11/29  1D   10D  YTD    2015/16 HIGH
 ARGENTINA           508    491    479   17   37    -          -
 BARBADOS            607    615    621   -8   -2    3    659 (2/11/16)
 BRAZIL              323    309    310   14   19   -163  542 (2/11/16)
 CHILE                78    77     83     1    1    -8   143 (2/11/16)
 COLOMBIA            229    227    232    2   -4   -60   412 (2/11/16)
 COSTA RICA          443    439    439    4   22   -74   587 (2/11/16)
 DOMINICAN REP       407    403    403    4   15    -8   542 (2/11/16)
 ECUADOR             738    749    770   -11  -40  -577  1765 (2/11/16)
 EL SALVADOR         615    607    615    8   63   -25   840 (2/11/16)
 GUATEMALA           302    305    307   -3   17    0    385 (2/11/16)
 JAMAICA             388    390    399   -2    7   -61   519 (2/11/15)
 MEXICO              219    216    221    3    9    25   278 (2/11/16)
 PANAMA              182    180    183    2    7   -24   272 (2/11/16)
 PERU                166    166    169    0    3   -65   291 (2/10/16)
 TRINIDAD & TOBAGO   244    241    246    3   13   146   173 (1/15/15)
 URUGUAY             240    238    240    2    8   -28   344 (2/11/16)
 VENEZUELA           2474  2479   2502   -5   112  -318  3713 (2/12/16)
    Source: Bank of America Merrill Lynch Master Index
    
    SPREAD TRENDS
    One-day change mixed
    Ten-day trend 14 out of 17 sovereigns wider
    YTD: Costa Rica tighter by 74bp
    YTD: Jamaica tighter by 61bp
    YTD: Uruguay tighter by 28bp
    
    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 Paul Kilby)

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