Don’t be fooled by size. Uruguay has consistently punched above its weight as a debt issuer and risk manager this decade. The issuer topped off a successful streak of liability management by steering investors to long-dated global and domestic bonds through November 2007 and June 2008 tenders.
Category: Deals of the Year Awards
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BEST SOVEREIGN BOND
As LatAm issuers plan their funding strategies this year, they may look back fondly on a time when sovereigns could get new issue spreads of 170 basis points on 30-year paper.
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BEST SUB-SOVEREIGN FINANCING
Capitalizing on upgrades and market opportunity, State of Mexico declined to use any major investment banks for its 25 billion peso refinance which extended duration and slashed the price on most liabilities.
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BEST CORPORATE ISSUER/EQUITY FOLLOW-ON
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.
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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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Local Currency Financing
Getting Reais The IFC broke new ground for the Brazilian corporate debt market in October with a debut issue, actually in reais. Unlike previous local trades from multilaterals, the 200 […]
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Primary Equity Issue
Great Exchange Expectations It was not just the biggest equity deal of 2007 from LatAm, the fifth largest IPO globally and the most substantial to date from any exchange. The […]
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Private Equity Deal
Refocusing Pride GP Investment’s $1 billion acquisition of a collection of LatAm assets from Pride International has vaulted the Brazilian private equity firm into a new league. It is now […]
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Quasi-Sovereign Bond
City Financing Just before credit markets dried up in July 2007, the District of Bogotá priced an innovative and tightly priced $300 million TES-denominated 144A offering due 2028. What the […]