Author Archives: LatinFinance Awards

The region’s financial institutions were latecomers to the new issue party during the market recovery. Eventually the demand was too good to resist, and institutions began to load up on subordinated capital.

In a tough year for trade finance, leading borrower América Móvil proved that diversification to the east is not just for rogue governments strapped for cash.

For much of last year, CFO and finance ministry agendas were dominated by efforts to survive the credit crunch, and, as debt markets reopened in the second half, address immediate funding needs.

A mid severe volatility, liability management was not at the front of most issuers’ minds last year. In the sovereign space, the region’s largest and most market-ready issuers were not in great need, and the market was tricky for most others.

Bimbo, the largest bread and confectionary producer in the hemisphere, seized the opportunity to expand in the US. It is cutting leverage, but has an eye on further expansion.

Recuperating markets played to the strengths of JPMorgan, globally one of the few banks to emerge stronger from crisis. The shift to high yield presents a challenge.