After several years of sinking billions of dollars into government-mandated expansion programs, Brazil’s phone companies are finally ready to start increasing revenues and reducing debt.
Category: 2002
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CAF Cultivates the Europeans
The multilateral bank that serves impoverished Andean economies received a warm reception for its long term bond issue from wary European investors.
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Time to Tone Up
Latin American companies are facing serious financial health problems. It does not help that many are corporate fatties with dangerously lop-sided capital structures weighed down by debt.
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Doing the Right Thing
Even if it hurts, Latin American companies recognize the need to look to the equity markets as a way to rebalance capital structures weighed dwon by debt and Brazil is leading the way. The challenge is to drum up investor interest.
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Forging A Stronger Franchise
With Latin America’s economies in recession and many of their political systems unstable, the new head of Citibank operations in the region is stepping into fire.
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Hauling in High-Yield Investors
A Sub-investment grade Mexican railroad company took advantage of an openeing in the US junk bond market to issue $180 million worth of 10-year paper.
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Hello… Is Anyone There?
Several countries that missed the telecom boom of the 1990s to privatize their telephone networks now are trying to offload them. But disorganization, political opposition and investor indifference are driving down prices by the day.
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Looking for a Better Benchmark
For years, Latin American bonds formed the core of the emerging market universe and were the foundation of major market indices. But investor interest has shifted, and so has their reliance on traditional benchmarks.
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Lowering Barriers to Entry
There are small signs that Mexico’s competition authorities are beginning to stand up to the rich and powerful bosses who have defied control for years. But the regulators have a hard battle ahead of them.