Borrowing costs at billionaire Eduardo Eurnekian’s airport in Buenos Aires are surging by the most in eight months versus Argentine corporate issuers as the nation’s move to seize one of its hangars deepens concern the government wants to extend its control over the industry.
Vitro SAB’s defaulted bonds are rallying to a two-month high, a sign to JPMorgan Chase & Co. and BCP Securities LLC to sell the securities because the price overvalues the Mexican glassmaker’s latest debt-restructuring offer by almost 50 percent.
YPF SA, Argentina’s biggest oil producer by market value, plans to return to global markets for the first time in 12 years with the sale of up to $600 million of bonds as the company aims to expand at home and abroad.
Vitro SAB’s defaulted bonds have climbed to a 23-month high on speculation Mexico’s biggest glassmaker will sweeten an offer to restructure $1.2 billion in debt that was rejected by creditors last month.
Vitro SAB, the Mexican glassmaker that defaulted on $1.2 billion of bonds last year, plans to ensure creditors approve a debt-restructuring offer by voting $1.9 billion of its intercompany loans in favor of the deal.
Defaulted bonds issued by Vitro SAB , Mexico’s biggest glassmaker, are surging to a 2 1/2-year high as investors try to stave off an unprecedented bid by the company to take control of the creditors’ group.
Argentine companies and provinces are selling the most debt overseas since 2007 as issuers from Cordoba to IRSA Inversiones Representaciones SA tap into declining borrowing costs after the government restructured defaulted debt.
Aeropuertos Argentina 2000’s success in winning price increases from the government may allow the country’s biggest airport operator to pay a lower interest rate on its $300 million bond sale than similarly rated Latin American companies.