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LATAM CLOSE-No deals price in LatAm primary market

* Venezuela debt falls after PDVSA extends swap again
    * Republic of Suriname sets IPTs at 9.5% area on new 10-year
    * LatAm growth to revive as CenBanks prep rate cuts: Reuters poll

    By Mike Gambale and Paul Kilby
    NEW YORK, Oct 18 (IFR) - No deals priced in the Latam primary market on
Tuesday:
    
    Below is a snapshot of LatAm sovereign credit spreads:
       SOVEREIGN        17-Oct  14-Oct  13-Oct   1D   10D  YTD    2015/16 HIGH
 ARGENTINA               450     440     438     10   28    -          -
 BARBADOS                625     622     632     3    -20   21   659 (2/11/16)
 BRAZIL                  289     282     287     7     1   -197  542 (2/11/16)
 CHILE                    69      67      69     2    -1   -17   143 (2/11/16)
 COLOMBIA                209     204     209     5     5   -80   412 (2/11/16)
 COSTA RICA              386     381     390     5    -1   -131  587 (2/11/16)
 DOMINICAN REP           362     359     364     3    24   -53   542 (2/11/16)
 ECUADOR                 794     797     825     -3   -76  -521  1765 (2/11/16)
 EL SALVADOR             503     505     547     -2   26   -137  840 (2/11/16)
 GUATEMALA               244     241     245     3     1   -58   385 (2/11/16)
 JAMAICA                 370     368     373     2    -10  -79   519 (2/11/15)
 MEXICO                  167     163     164     4    -12  -27   278 (2/11/16)
 PANAMA                  149     144     150     5     1   -57   272 (2/11/16)
 PERU                    138     138     137     0     0   -93   291 (2/10/16)
 TRINIDAD & TOBAGO       212     210     214     2    -3   114   173 (1/15/15)
 URUGUAY                 217     213     218     4     0   -51   344 (2/11/16)
 VENEZUELA               2326    2256    2163    70   313  -466  3713 (2/12/16)
    Source: Bank of America Merrill Lynch Master Index
    
    SPREAD TRENDS
    One-day change most sovereigns wider
    Ecuador outperforms over 10-day period
    YTD: Costa Rica tighter by 131bp
    YTD: Mexico tighter by 27bp
    YTD: Venezuela tighter by 466bp
        
    PIPELINE:
    The Argentine Province of Santa Fe has hired banks to arrange investor
meetings in the US and Europe ahead of a potential US$250m bond sale, according
to market sources. The meetings will take place in London on Wednesday, New York
on Thursday and Friday, and wrap up in Boston on October 24. A 144A/Reg S issue
is expected to follow. JP Morgan is the global coordinator on the potential
sale, joined by Citigroup and HSBC as bookrunners.
    
    Enersis Americas SA, Baa3/BBB, one of the main privately owned multinational
power Corporations in South America, started roadshows this week to market a
possible US dollar-denominated senior unsecured benchmark bond.
    The borrower was in Boston on Tuesday, and will finish meetings in New York
on October 19. The borrower has mandated BBVA, Citigroup, JP Morgan, Morgan
Stanley as joint bookrunners to arrange the meetings. JP Morgan is coordinating.
    
    LATAM Airlines Group S.A. ("LATAM", NYSE: LFL), a Chile-based airline group,
mandated Citi and JP Morgan as global coordinators and joint bookrunners and
BNPP, BofAML, Deutsche Bank, and Santander as joint bookrunners to arrange a
series of fixed income investor meetings in Chile, Europe, and the US. A
USD-denominated benchmark 144A/Reg S 7-year offering is expected to follow,
subject to market conditions.
    Meeting schedule: October 12, Santiago; October 14, Los Angeles; October 17,
London; October 18, Boston; October 19, New York. 
        
    Nafin, a Mexican development bank, has wrapped up roadshows as it looks to
market a potential US dollar bond through Bank of America Merrill Lynch and
HSBC. The issuer is rated A3/BBB+/BBB+.
    
    The Republic of Suriname (B1/B+/B+) has set initial price thoughts of 9.5%
area on a US$500m 10-year bond, ahead of expected pricing on Wednesday.
    Proceeds are being used to redeem outstanding 8.57% bridge notes, to make a
loan to state-owned oil company Staatsolie and for general budgetary purposes.
    Oppenheimer and Scotiabank are acting as joint bookrunners on the 144A/Reg S
deal, which is expected to be rated B1/B+/B+.

 (Reporting by Mike Gambale; Editing by Paul Kilby)

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