Techint to Buy Hylsamex Argentine steelmaker Techint plans to buy Hylsamex, Mexico’s third largest steel company, for $2.25 billion. Techint wants to create a company that would combine Hylsamex, Techint’s […]
Category: Bonds
Posted inDaily Brief
Techint to Buy Hylsamex
Argentine steel maker Techint announced plans to buy Mexico’s third largest steel company Hylsamex for $2.25 billion. Grupo Alfa, which holds a 43 percent stake in Hylsamex, has already agreed to sell its stake. Techint is looking to create a new company that will include Hylsamex, Argentine steel maker Siderar and Venezuelan iron and steel group Siderurgica del Orinoco (Sidor).
Posted inDaily Brief
CAFTA Promoted
The Bush administration is pushing Congress to pass the US-Central American Free Trade Agreement (CAFTA), arguing the pact is necessary to ensure economic growth, freedom and democracy in Central America. The presidents of the Dominican Republic, Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua were in Washington Wednesday and also encouraged Congressional leaders to ratify the agreement. CAFTA faces stiff resistance from US textile manufacturers and the country’s sugar industry.
Posted inDaily Brief
Bush Pushes CAFTA
US President George W. Bush urged congress to approve a free trade agreement with Central America (known as CAFTA) to help bolster US exports. Central America is the US’s 13th-largest export market, bigger than Russia, India and Indonesia combined, and the US is the biggest buyer of Central American products. Goods worth about $33 billion are expected to be traded between the US and Central America this year.
Posted inMagazine
Microfinance Break
Microfinance firms could grow more rapidly if only they could access financial markets. Mexico’s Financiera Compartamos has engineered a bond deal that represents a significant advance in breaking down some […]
Posted inMagazine
New Sheriff in Town
Marcelo Trindade, the new president of the Comissão de Valores Mobiliários, promises to put some bite into Brazil’s toothless securities regulator.
Posted inMagazine
Local Market’s Moment
Latin American markets seem to be treading water, unsure what to do next after last year’s great performance. Bond issuance was its best since 1997, stock markets surged and several […]
Posted inMagazine
Latest Financial Transactions From The Region
Brazil Gets $1.5 billion as C-Bond Breaks Par Brazil sold $1.5 billion in 30-year bonds, priced to yield 8.75%. Deutsche Bank and Citigroup managed the sale. This was the sovereign’s […]