Peruvian energy provider Enersur, an affiliate of French group Suez, has raised $77 million via a stock floatation on the local exchange. The IPO saw shares sold at 7.6 soles ($2.24) per share and represented just over 17% of the company’s capital.
Category: Daily Brief
Posted inDaily Brief
Venezuelan Increases Bond Sale To $3 Billion
Venezuela extended its $1.5 billion dollar-denominated bond sale up to $3 billion as strong demand saw the sale oversubscribed by almost seven times, according to government reports. The government had originally offered domestic investors $750 million of bonds due 2016 at a yield of 5.75% and $750 million of bonds due 2020 at a yield of 6%. Buying dollar-denominated bonds is a way for local investors to access dollars following restrictions imposed on them by the government.
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Argentine Macro Bansud Buys Banco de Tucumán
Macro Bansud, one of Argentina’s highest-growth private banks, has finalized the purchase of 75% of Banco de Tucumán from local Banco Comafi for $17.3 million. This is the second bank Macro Bansud has bought in the north-western province of Tucumán; a few weeks ago it took over Banco Empresario de Tucumán Cooperativo Limitado, which had suspended trading, paying $10 million.
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Banco De Chile To Open In Beijing
Chile’s second-largest bank, Banco de Chile, is set to be the country’s first financial institution to open a branch in Beijing, China. The bank has said it plans to take advantage of a new free trade accord between Chile and China and will open the branch next year.
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Argentina Buys Back $113 Million Debt
Argentina has bought back $113 million bonds at a cost of $98.8 million as part of its debt restructuring program. As part of the program, Argentina agreed to buy back bonds outstanding with any unused funds, which for 2004 was $318 million. The government still has $219 million left to use for bond buy back operations before year end. The bonds in this transaction included $108.6 million of Boden 2015 and $5.03 of Boden 2012.
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Argentina Monthly Bank Profits At Annual High
The Argentine banking sector announced profits of $95 million in September, the highest monthly earnings so far this year. The figure for September represents 1.7% return on assets (ROA). Profits for the first nine months of the year stand at $400 million and ROA at 0.8%.
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Brazil Cuts Benchmark Lending Rate
Brazil has cut its benchmark lending rate to 18.5% from 19.0%, the third reduction since September. The cut is aimed at bolstering economic growth following a drop in year-on-year industrial production to 0.2% in September.
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Chile Economy Grows 5.2%
Chile’s GDP grew 5.2% in the third quarter of this year, driven by strong copper prices and consumer spending. The rate of growth is, however, down on the second quarter expansion of 6.5% as a strengthening peso is having an effect on exporters. The economy has expanded in every quarter for the past six years since coming out of recession at the end of 1999.
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IAM Succeeds With Chile’s Largest IPO
Inversiones Aguas Metropolitanas (IAM), Chile’s largest drinking water supplier, has issued Chile’s largest IPO to date, with 80% of the total offering taken up by international investors. The company, which is an affiliate of Aguas de Barcelona (Agbar), raised $91.8 million in the local market and $306 million internationally as ADRs. UBS Investment Bank acted as sole global coordinator and sole international bookrunner. The local tranche was arranged by Celfin Capital, Banchile and Santander Investment.
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Pinochet Under House Arrest For Tax Evasion
Former Chilean dictator Augusto Pinochet has been put under house arrest on charges of tax evasion and fraud. The arrest follows an investigation that began last year into $28 million funds held outside Chile in secret accounts.