December 14, 2016 / 8:23 PM / a year ago

LATAM CLOSE-No deals price in LatAm primary market

* Fed raises rates by 25bp, 1st hike in a year
    * Central bank sees three hikes coming in 2017
    * Brazil fiscal bill vote could come before year's end: FinMin
    * Petrobras to sell stake in Nova Fronteira ethanol venture
    * BRL, CLP both off 1% vs USD after rate hike

    By Mike Gambale
    NEW YORK, Dec 14 (IFR) - No deals priced in the LatAm primary market on
Wednesday.
    
    Below is a snapshot of sovereign credit spreads across the region.
     SOVEREIGN       12/13  12/12  12/9  1D   10D   YTD    2015/16 HIGH
 ARGENTINA            491    491   467    0    0     -          -
 BARBADOS             604    604   604    0   -11    0    659 (2/11/16)
 BRAZIL               299    304   303   -5   -10   -187  542 (2/11/16)
 CHILE                70     69     69    1    -7   -16   143 (2/11/16)
 COLOMBIA             205    208   208   -3   -22   -84   412 (2/11/16)
 COSTA RICA           425    424   422    1   -14   -92   587 (2/11/16)
 DOMINICAN REP        385    386   383   -1   -18   -30   542 (2/11/16)
 ECUADOR              681    697   700   -16  -68   -634  1765 (2/11/16)
 EL SALVADOR          525    533   536   -8   -82   -115  840 (2/11/16)
 GUATEMALA            280    285   285   -5   -25   -22   385 (2/11/16)
 JAMAICA              350    354   354   -4   -40   -99   519 (2/11/15)
 MEXICO               201    203   202   -2   -15    7    278 (2/11/16)
 PANAMA               169    170   167   -1   -11   -37   272 (2/11/16)
 PERU                 158    158   155    0    -8   -73   291 (2/10/16)
 TRINIDAD & TOBAGO    216    219   221   -3   -25   118   173 (1/15/15)
 URUGUAY              227    228   227   -1   -11   -41   344 (2/11/16)
 VENEZUELA           2215   2223   2266  -8   -264  -577  3713 (2/12/16)
    Source: Bank of America Merrill Lynch Master Index
    
    SPREAD TRENDS
    One-day change: 12 of 17 sovereigns tighter
    Ten-day trend 16 of 17 sovereigns tighter
    YTD: Barbados flat
    YTD: Ecuador tighter by 634bp
    YTD: Mexico wider by 7bp
    
    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)

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