Latin American corporate issuance in September stood at just over $15 billion, according to Bank of America-Merrill Lynch, the second highest month this year, bringing year-to-date issuance to $83 billion and breaking 2011s historical record issuance of $76.6 billion.
BAML has revised its 2012 volume forecast for LatAm banks, corporates and quasi-sovereigns to $95 billion from $70 billion.
Low interest rates, huge fund flows into emerging market funds and a market perception of getting more yield in emerging markets contribute to record-breaking numbers in new issuance and performance, says Anne Milne, head of EM corporate research at the bank.
Investment grade bonds continues to dominate issuance with 79% year-to-date being high yield deals. First time issuers have accounted for roughly 25% of total issuance this year.
Already have an account?
Subscribe now for unlimited access to all current and archive news, data and market analysis.
Take a free two-week trial now for the latest news, data and market analysis.