Once celebrated as groundbreaking, Cap Cana’s 2006 structured bond is a battleground for some LatAm bondholders. Cap Cana says it seeks a pragmatic solution.
Category: 2009
Posted inMagazine
Retailers Buy LatAm
Wal-Mart’s recent Chile buy has raised expectations of more LatAm deals to come from the retail behemoth. Others will likely join the shopping spree.
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Regional Growth: Buckling Under
LatAm is better prepared for global crisis, and appears relatively comfortable versus Eastern Europe. But it is being hammered more than initially expected.
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High Voltage M&A
Energy sector consolidation looks set to continue, fueled by incoming Europeans, growing large locals and cash-strapped exiting small caps.
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Brazil Politics: Life After Lula
Markets almost collapsed during the 2002 election, when Lula first took power. Less volatility is expected in 2010, and José Serra leads the polls.
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Latin America-Middle East: Behind the Mirage
The Middle East has gone bust faster than anyone could have imagined. However, Brazil is still on the radar and LatAm may still be a long-term beneficiary of Gulf wealth.
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Brazil Mining: Into the Pits
Large Brazilian metal producers are well capitalized and scouting opportunity. Incremental, opportunistic asset purchases by deep-pocketed firms look likely.
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COMMENT: Fools Gold?
LatAm companies and funds hoping to find a pot of gold in the Gulf desert are in for a shock. The Middle East was, until very recently, a viable new source of fresh capital. It has taken an enormous hit and will spend months if not years licking its wounds.
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Brazil Private Equity: Relative Value Play
Private equity is the last man standing in the capital supply game. But fund raising prospects have sharply deteriorated and caution reigns.
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DEBT: Mexico Rings Alarm
Mexico’s worst sovereign bond issue in years has unsettled the market and suggests more rough times ahead for LatAm issuers.