Latin America's $7 Billion Bond Pipeline Tests Capacity for Risk
- Issuers seeking a window of market calm to push through deals
- Brazil, Peru may lead sales while Argentina is less attractive
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Borrowers from Chile to Mexico are hoping a thaw which began last week in emerging-market bond sales will last long enough for them to raise as much as $7 billion before year-end.
Petroleos Mexicanos, the world’s most indebted oil company, led the way when it sold $2 billion of debt last week, signaling a reopening of the window for international sales from Latin America. It’s been a challenging year for corporate and sovereign issuers in the region as economic and political turmoil in the largest markets as well as higher rates in the U.S. put a damper on deals.