Flurry for Latin American corporates

摘要

Latin American corporates marked Earth Day last Thursday with a flurry of sustainability-linked and social bond issuance. Mexico's FEMSA and METALSA raised new SLBs and global infrastructure developer SACYR issued the first social bond tied to an infrastructure project in Latin America. Beverage and retail company FEMSA (A-/A) issued a €1.2bn two-tranche sustainability-linked bond, pricing a new €700m seven-year and €500m 12-year note at mid-swaps plus 70bp and 88bp respectively. As an SEC-registered offering, book size was not disclosed. Meanwhile, auto parts manufacturer METALSA (BB+/BBB-) drew around US$lbn of interest for a new US$300m 10-year SLB that priced at 3.75%.