The Brazilian energy and infrastructure firm reopened the global-real market, and says local currency funding is set to become even more important this year
Category: 2014 January / February
RESTRUCTURING: Belize $547.5m exchange offer
The Central American sovereign’s path out of default showed how borrowers and creditors can reach an amicable agreement
CORPORATE ISSUER: América Móvil
LOCAL CURRENCY DEAL
FINANCING INNOVATION
América Móvil MXN15bn global peso bond
Pioneering a new type of local currency instrument and swaggering into European hybrid debt has set América Móvil apart as Latin America’s most sophisticated borrower
SOVEREIGN BOND: Republic of Chile $1.5 bn 2022/2042
Chile impressed with the lowest coupon and yield ever achieved by a Latin American issuer for the 10 and 30-year tranches
CORPORATE LIABILITY MANAGEMENT: Odebrecht $550m/BRL500m tender and new issue
The Brazilian corporate’s tender offer and dual-currency new issue was well timed and executed
SOVEREIGN ISSUER/LIABILITY MANAGEMENT: United Mexican States / Mexico €1.6bn new issue and tender
Mexico’s foresight, nimbleness and use of innovative structures marks it out as Latin America’s most sophisticated sovereign borrower
CROSS-BORDER M&A DEAL: Cencosud / Carrefour Colombia
The largest international acquisition by a Chilean company came with a smooth financing package
STRUCTURED FINANCING: RCO MXN7.5bn project bond
Project bonds and local currency debt have each drawn growing appetite from investors. But to combine the two deal types was unprecedented in Mexico
DOMESTIC M&A: Afore XXI Banorte/Afore Bancomer
Banorte leapt into the top position in a growing pension sector, taking advantage of BBVA’s exit
SYNDICATED LOAN: Itaú BBA $1.5bn term loan
Itaú BBA opened the way for other Latin American banks to tap international lenders for funding the largest loan transaction ever made to a LatAm institution
