The Inter-American Development Bank (IDB) and Mexican export-import bank Bancomext are gearing up to sell five-year bonds this week, adding to the pipeline of Latin American issuers looking to tap the international market as volatility eases.
The IDB has set the initial price talk on the sale of 2030 notes in the area of 45 basis points over SOFR mid-swaps, according to a source involved in the deal.
The US-based development bank expects to price a benchmark-sized deal on Wednesday, the source said, adding that it has hired HSBC, JPMorgan, RBC Capital Markets and Scotiabank as joint bookrunners on the offering.
The notes will be listed in the London stock exchange and governed under New York law.
Bancomext, for its part, began calling investors on Tuesday to pitch the 2030 notes, with Goldman Sachs, Morgan Stanley and SMBC Nikko acting as global coordinators and joint bookrunners on the offering, according to a source familiar with the deal.
BBVA and Scotiabank are additional joint bookrunners on the deal, the person added.
The state-owned lender intends to use the proceeds for general corporate purposes, including refinancing debt, it said in a presentation to investors.
This week is shaping up to be the busiest for Latin American issuers since February after Peruvian development bank Cofide also priced notes in the US market on Tuesday. It comes as international capital markets stabilize following large swings earlier this month caused by US President Donald Trump’s on-off import tariff moves.
Four other regional corporates — Antofagasta, Celulosa Arauco, Orbia and CAF — are also expected to tap the cross-border market soon.