December 15, 2016 / 9:42 PM / a year ago

LATAM CLOSE-No deals price in LatAm primary market

* Mexico central bank hikes rates by 50bp
    * Brazil recession extends, activity down in Oct
    * Moody's puts America Movil, Telmex on review for downgrade
    * Ecuador FinMin Herrera quits for health reasons

    By Mike Gambale
    NEW YORK, Dec 15 (IFR) - No deals priced in the LatAm primary market on
Thursday.
    
    Below is a snapshot of sovereign credit spreads across the region.
     SOVEREIGN      12/14   12/13  12/12  1D   10D   YTD    2015/16 HIGH
 ARGENTINA           482     491    491   -9   -26    -           -
 BARBADOS            602     604    604   -2    -5    -2    659 (2/11/16)
 BRAZIL              293     299    304   -6   -30   -193   542 (2/11/16)
 CHILE                67     70     69    -3   -11   -19    143 (2/11/16)
 COLOMBIA            194     205    208   -11  -35   -95    412 (2/11/16)
 COSTA RICA          425     425    424    0   -18   -92    587 (2/11/16)
 DOMINICAN REP       381     385    386   -4   -26   -34    542 (2/11/16)
 ECUADOR             673     681    697   -8   -65   -642  1765 (2/11/16)
 EL SALVADOR         510     525    533   -15  -105  -130   840 (2/11/16)
 GUATEMALA           260     280    285   -20  -42   -42    385 (2/11/16)
 JAMAICA             347     350    354   -3   -41   -102   519 (2/11/15)
 MEXICO              192     201    203   -9   -27    -2    278 (2/11/16)
 PANAMA              161     169    170   -8   -21   -45    272 (2/11/16)
 PERU                152     158    158   -6   -14   -79    291 (2/10/16)
 TRINIDAD & TOBAGO   210     216    219   -6   -34   112    173 (1/15/15)
 URUGUAY             223     227    228   -4   -17   -45    344 (2/11/16)
 VENEZUELA           2226   2215   2223   11   -248  -566  3713 (2/12/16)
    Source: Bank of America Merrill Lynch Master Index
    
    SPREAD TRENDS
    One-day change: all sovereigns flat to tighter
    Ten-day trend: all sovereigns tighter
    YTD: Barbados tighter by 2bp
    YTD: Ecuador tighter by 642bp
    YTD: Mexico tighter by 2bp
    
    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 Marc Carnegie)

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