Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers E > Headlines for EuroChem Global Investments Ltd. > News item |
Colombia under pressure; Mexico mixed; emerging markets stare down lower oil; EuroChem on tap
By Rebecca Melvin and Colin Hanner
New York, June 16 – Selling hit Colombia’s sovereign debt on Friday, particularly the 2027 notes and the 2045 notes, which priced earlier this year. The spread on the near-dated 2027 bonds increased by about 6 basis points this week, hurt either by a tumble in oil prices or because of the U.S. Federal Reserve’s interest rate increase and shifting policy, market sources said.
Colombia’s medium-term notes were coming under pressure following a steepening of the curve over the last six months. Meanwhile, the shorter-dated bonds, including the 2021 and 2023 notes, remained hard to find, a Latin America credit trader said.
There were some sellers of Mexico’s 3 5/8% notes due 2022 and 4.15% notes due 2027 this week, while the Mexico 2021, 2023 and 2025 notes remained well bid.
“[New issues] varied by geography this week” in Russia, Africa and Turkey “and varied by currency” in dollars and euros, “so [there was] a broad range of CEEMA debt on the week,” a market source said.
Moscow-based fertilizer company EuroChem Global Investments Ltd. is expected to come to market with a benchmark offering of dollar-denominated, four-year unsecured senior notes next week.
Also next week, Belarus will begin an investor roadshow for a dollar-denominated offerings of five- and 10-year notes, a market source said.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.