Latin American Debt Springs to Life

Latin American Debt Springs to Life

Borrowers jumped on unseasonably robust appetite from international investors to unleash a glut of supply unmatched in recent memory, and much more is in the pipeline. The buyside hurled $37.0 billion in orders at the $6.5 billion in July cross-border LatAm sales, a vast leap versus the $470 million dribble of last July, typically a quiet month.  “I would anticipate in September through December a pretty heavy new issuance calendar,” says Arif Joshi, who manages $4 billion in EM debt at Halbis in New York. “Those corporates that price at a significant discount to the curve will be successful in issuing that paper,” he adds. He explains that more than 90% of th

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