* Suriname makes international bond debut
* Chile’s Tanner prints Swiss franc trade
* Trinidad’s TGU preps dollar deal
* Venezuela congress probe says US$11bn missing at PDVSA
By Mike Gambale and Paul Kilby
NEW YORK, Oct 19 (IFR) - Below is a recap of primary issuance activity in the Latam primary market on Wednesday:
Number of deals priced: 2
Total issuance volume: US$550m, CHF150m
The Republic of Suriname has announced a new 10-year bond ahead of pricing on Wednesday. Oppenheimer and Scotiabank acted as joint bookrunners on the 144A/Reg S deal, which is expected to be rated B1/B+/B+.
Proceeds will be used to redeem 8.57% bridge notes, to make a loan to state-owned oil company Staatsolie and for general budgetary purposes.
IPTs 9.50% area
GUIDANCE: 10-year at 9.25% area
LAUNCH: US$550m 10-year at 9.25%
PRICED: US$550m 10-year: par; 9.25%Y - Maturity: Oct 26 2026
Chilean SME financing group Tanner Servicios Financieros (rated NR/BBB-/BBB-) has priced a CHF150m three-year bond at par to yield 2.125% or MS+276.3bp, tight to guidance of 2.25% area. Credit Suisse acted as sole lead on the deal, which is rated BBB-/BBB-.
Trinidad Generation Unlimited (TGU) started roadshows on Wednesday to market a potential benchmark US dollar bond.
The borrower was in Trinidad on Wednesday and will then head to Los Angeles on October 21, to London on October 24, Boston on October 25 and New York on October 26. Expected ratings for the 144A/RegS senior unsecured note are BBB/BBB-. TGU is the largest energy supplier in Trinidad & Tobago
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. Meetings took place in London on Wednesday, and will continue in New York on Thursday and Friday, wrapping 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, wrapped up roadshows on Wednesday ahead of possible US dollar-denominated senior unsecured benchmark bond.
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. Roadshows wrapped up on Wednesday.
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+. (Reporting by Mike Gambale; Editing by Paul Kilby)