[LATAM CLOSE]: Mandate Monday

The LatAm new issue market returned from the weekend to the tune of no trades, although one trade was announced before NY's trading started. Corporacion Andina de Fomento announced a 5yr benchmark-sized note whose IPTs were heard at SOFR MS+90 area. CAF's trade is f/c to be tomorrow's business.

However, the pipeline saw the announcement of three mandates, thus ensuring CAF will have company aplenty this week.

First, Mexico-based El Puerto de Liverpool, S.A.B. de C.V. announced calls beginning today, with the possibility of a dual-tranche (7yr/12yr) offering to follow. This announcement was quickly followed by Brazil-based Banco Bradesco S.A. announcing its own calls, with a possible 5yr senior unsecured note to follow. Finally, Trust 1401 (Fibra Uno) also started calls today, with the possibility of a dual-tranche (7yr/12yr) senior unsecured sustainability-linked (2025's first) to follow.

With a loaded pipeline and CAF f/c to add to current numbers tomorrow, LatAm looks set to continue what has been a brisk pace of deal flow as the first month of the new year approaches its halfway mark and ahead of next week's holiday-shortened week.

Volume for the year at this moment remains at $16.211bln.

LATAM PIPELINE

EL PUERTO DE LIVERPOOL, S.A.B. DE C.V.
El Puerto de Liverpool, S.A.B. de C.V., rated BBB by S&P and BBB+ by Fitch respectively, has mandated JPMorgan as global coordinator and BBVA, BofA Securities, Santander, and JPMorgan as joint-book running managers to arrange a series of virtual fixed income investor calls commencing on Monday, Jan. 13. A dual series senior unsecured notes 144A / Regulation S offering denominated in USD and with 7-year and 12-year maturities, with expected issue ratings of BBB by S&P and BBB+ by Fitch may follow, subject to market conditions. Liverpool is a a Mexican omnichannel retailer with a leading presence in department stores and a robust e-commerce platform, offering a wide selection of apparel, novelties, and home items. Proceeds to finance a portion of Liverpool’s investment in connection with the Nordstrom merger. BofA Securities will be coordinating meeting logistics.

BANCO BRADESCO, S.A.Banco Bradesco S.A., one of the largest banks in Brazil, rated Ba1 (p) by Moody’s and BB+ (n) by Fitch, has mandated Bradesco BBI, BofA Securities, Citigroup, Goldman Sachs, J.P. Morgan and UBS Investment Bank as Joint Bookrunners to arrange a series of fixed income investor calls starting on Monday, January 13, 2025. Bradesco BBI will be coordinating logistics. A benchmark-sized USD-denominated Rule 144A/Reg S Senior Unsecured 5-year Notes offering may follow, subject to market conditions.

TRUST 1401
Trust 1401 ("Fibra Uno" or "FUNO"), the largest real estate investment trust operator in Mexico and Latin America, has mandated BBVA and J.P. Morgan as Global Coordinators and Alterna Securities, BBVA, BofA Securities, Citigroup, Goldman Sachs, J.P. Morgan, Santander and Scotiabank as Joint Bookrunners to arrange a series of virtual fixed income investor meetings starting on January 13th. A dual-tranche 7- and 12-year USD-denominated 144A / Reg. S Sustainability-Linked Senior Unsecured benchmark-sized bond with expected ratings of Baa3 by Moody's and BBB- by Fitch may follow, subject to market conditions. BBVA will be coordinating logistics. FUNO will be represented by:

Team A:
Jorge Pigeon – VP of Capital Markets & Investor Relations
Natalia Lombana Rodriguez – Sustainability Manager

Team B:
Fernando Alvarez – VP of Finance
Javier Elizalde – VP of Treasury
Sofia Pena – Investor Relations Director
Ana Karen Mora – ESG Director

Deal Roadshow / Login Details: URL: https://dealroadshow.com. Entry Code: FUNO25. Direct Link: https://dealroadshow.com/e/FUNO25.

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