The implosion of one of Trinidad and Tobago’s largest conglomerates deals a double blow to what until last year was among the Caribbean’s most prosperous nations.
Category: 2009
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Man of the Year: Inside the Setubal Rocket
After 15 years at the top of Itaú, Roberto Setubal has made it the biggest bank in LatAm. Savvy deal making is at the heart of his world-class financial institution.
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Jamaica Sees Tougher Times Ahead
Jamaica could shrink faster than that of any other Caribbean country as key industries from bauxite to sugar to tourism get smacked hard.
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André Esteves: Skin in the Game
After rising to the top at UBS, André Esteves is back with a global boutique. As markets continue to rupture, the Brazilian financier sees nothing but opportunity.
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Barbados Braced for Trouble
Tourism-dependent Barbados has little to be optimistic about in 2009. High taxes, a struggling manufacturing sector and falling tourism are a drag.
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DEALS OF THE YEAR RESULTS
Closing a transaction was enough to call it a success in 2008 as markets disintegrated. The LatinFinance Deals of the Year celebrate triumph over adversity.
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BEST DOMESTIC M&A
Last March, the third largest exchange in the world was formed in Brazil via the merger of Bolsa de Mercadorias & Futuros, the fourth largest commodities and futures exchange, and Bovespa, the fifth biggest public exchange globally.
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BEST INVESTMENT BANK/M&A HOUSE
Extending three years of robust gains, Credit Suisse continues to monopolize the LatAm fee pool thanks to a senior team that appears to be burning the candle at both ends. In the full year 2008, it amassed $247 million in revenue from core investment banking – M&A, ECM and DCM – or 21% of the market, according to Dealogic. Second was UBS with $132 million, or 11%.
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BEST PROJECT FINANCE DEAL
AES’s sizable pipeline of projects in LatAm gives it an enviable position when it comes to bargaining with lenders. Chilean unit AES Gener succeeded in closing in October 27 a $989 million project financing with a 17.5-year tenor.
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BEST BOND HOUSE
This is far from the most dynamic market in the history of LatAm DCM, but one shop has fought its way to the top, building on five years’ hard work. For the first time ever, HSBC is our Bond House of the Year, and its global reach and heavy balance sheet leave it in a strong position for 2009.