Chile and Peru’s local currency bond markets have lit up this week, with a number of transactions hitting screens from the Andean region’s financial services players.
BBVA Continental, the Spanish bank’s Peruvian unit, scheduled a bond auction for today (Tuesday), tapping investors for August 2023 debt. Equilibrium and Apoyo & Asociados both rated the upcoming trade AAA on a local scale, according to a prospectus filed by the bank.
BBVA Continental last tapped the domestic market on June 1, placing $45.9m in three-year non callable notes under the seventh shelf.
Today in Peru, Banco Ripley also unveiled plans to issue Peruvian soles and picked Credicorp Capital to lead proceedings.
In Chile, BTG Pactual Rentas Inmobiliarias II fund is preparing to issue up to UF2.5m ($105m) in inflation-linked paper. The Brazilian bank’s local fund said it will place either inflation-linked UF notes or the equivalent in Chilean peso bonds. Both would come with a five-year tenor and a bullet amortization.
Tanner Servicios is also in talks with investors over a portion of UF-denominated debt.
Finally, toll road concessionaire Ruta del Maipo issued a 6.3-year UF1m ($42m) bond in the Chilean capital markets, placing the 2.04% Series E security to yield 2.3%.
Proceeds will be used to fund a prospective tender offer for old bonds issued in 2004 and 2006.
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