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LATAM CLOSE-No deals price in LatAm primary market
December 13, 2016 / 8:39 PM / a year ago

LATAM CLOSE-No deals price in LatAm primary market

* No new deals announced Tuesday
    * Brazil's Goldfajn: Slower inflation makes room for lower rates
    * Latam currencies up as OPEC cut boosts crude prices
    * After Trump's win, China and Mexico move to deepen ties

    By Mike Gambale
    NEW YORK, Dec 13 (IFR) - No deals priced in the LatAm primary market on
Tuesday.
        
    Below is a snapshot of sovereign credit spreads across the region:
     SOVEREIGN       12/12  12/9  12/8   1D   10D   YTD    2015/16 HIGH
 ARGENTINA            491   467   464    24    12    -          -
 BARBADOS             604   604   610    0    -17    0    659 (2/11/16)
 BRAZIL               304   303   307    1     -6   -182  542 (2/11/16)
 CHILE                69     69    76    0    -14   -17   143 (2/11/16)
 COLOMBIA             208   208   210    0    -24   -81   412 (2/11/16)
 COSTA RICA           424   422   425    2    -15   -93   587 (2/11/16)
 DOMINICAN REP        386   383   394    3    -17   -29   542 (2/11/16)
 ECUADOR              697   700   712    -3   -73   -618  1765 (2/11/16)
 EL SALVADOR          533   536   547    -3   -82   -107  840 (2/11/16)
 GUATEMALA            285   285   293    0    -22   -17   385 (2/11/16)
 JAMAICA              354   354   364    0    -45   -95   519 (2/11/15)
 MEXICO               203   202   201    1    -18    9    278 (2/11/16)
 PANAMA               170   167   168    3    -13   -36   272 (2/11/16)
 PERU                 158   155   158    3    -11   -73   291 (2/10/16)
 TRINIDAD & TOBAGO    219   221   227    -2   -27   121   173 (1/15/15)
 URUGUAY              228   227   231    1    -12   -40   344 (2/11/16)
 VENEZUELA           2223   2266  2284  -43   -279  -569  3713 (2/12/16)
    Source: Bank of America Merrill Lynch Master Index
    
    SPREAD TRENDS:
    One-day change 13 out of 17 sovereigns flat to wider
    Ten-day trend 16 out of 17 sovereigns tighter
    YTD: Barbados flat
    YTD: Ecuador tighter by 618bp
    YTD: Mexico wider by 9bp
    
    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)

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