Chile impressed with the lowest coupon and yield ever achieved by a Latin American issuer for the 10 and 30-year tranches
Category: 2014 January / February
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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
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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
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CROSS-BORDER M&A DEAL: Cencosud / Carrefour Colombia
The largest international acquisition by a Chilean company came with a smooth financing package
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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
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Cover Story: Bankruptcy after OGX: The big test
With emerging market defaults poised to rise this year, the restructuring of OGX could set an important precedent for corporate recoveries in Latin America. By Ben Miller and Katie Llanos-Small
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Cover Story: High-yield bonds: Balance of power
High-yield borrowers and investors in Latin America face a challenging year ahead. Rising bankruptcies in a turning market cycle could stymie the progress of an asset class that, until recently, had lured growing sums of capital. By Ben Miller and Mariana Santibáñez
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Front Notes: In the balance
Anticipation is a funny thing. Investors’ fears of a turn in US monetary policy played havoc with bond markets last year — so much so, that by the time the […]
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Infrastructure Report: Financing innovation: The way back
Bond investors are showing a renewed interest in financing Latin America’s infrastructure. But bank lending still offers advantages that the markets cannot. By Joti Mangat
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Infrastructure Report: Introduction
As momentum builds for the World Cup kick-off in Brazil in June, attention will inevitably fall on Latin America’s infrastructure. The region is still searching for a way to attract the best financing mix