Gerdau, the Brazilian multinational steel company with assets spread around the region and in the US, has been the most frequent user of LatAm capital markets in the past year.
Category: 2008 Deals of the Year Awards
Posted inMagazine
BEST SYNDICATED LOAN/CORPORATE BOND ISSUE
Braskem’s March 2007 bid to acquire Ipiranga and Copesul unleashed a series of financings that kept the Brazilian petrochemicals giant in constant discussions with its bankers, lenders and investors through the subsequent 18-month period.
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BEST QUASI-SOVEREIGN BOND/FINANCIAL INSTITUTION BOND
BNDES has not been a frequent issuer in the dollar bond markets this decade. When the time came to refinance notes issued in 1998, however, the Brazilian development bank brought a well priced new 10-year bond that preserved the 0% withholding tax structure featured in the original issue.
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BEST CORPORATE LIABILITY MANAGEMENT
By the second quarter of 2008, the Dominican Republic’s capital markets, spurred on by three years of GDP growth rates topping 9%, had gradually become ripe for sizeable corporate issuance.
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BEST LOCAL CURRENCY FINANCING/STRUCTURED BOND
As LatAm expands, the road to infrastructure improvement would seem to run through the pockets of increasingly liquid pension funds.
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BEST PRIMARY EQUITY ISSUE
Despite highly volatile market conditions, the initial public offering of Brazil’s OGX Petroleos in June was a smash hit. The company raised a total of $6.7 billion, making it the largest IPO ever in Brazil.
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BEST PRIVATE EQUITY DEAL
Every year LatAm’s fledgling private equity industry witnesses something new like LBOs or the establishment of regionally-focused platform companies, such as Arcos Dorados.
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BEST CROSS-BORDER M&A
The $1.3 billion acquisition of Chilean electricity distributor Grupo Saesa by Morgan Stanley Infrastructure (MSI) and Ontario Teachers’ Pension Plan (OTPP) from New Jersey-based PSEG shows that financial investors can beat strategics when it comes to buying infrastructure-related companies.
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DEALS OF THE YEAR RESULTS
Closing a transaction was enough to call it a success in 2008 as markets disintegrated. The LatinFinance Deals of the Year celebrate triumph over adversity.
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BEST DOMESTIC M&A
Last March, the third largest exchange in the world was formed in Brazil via the merger of Bolsa de Mercadorias & Futuros, the fourth largest commodities and futures exchange, and Bovespa, the fifth biggest public exchange globally.