Category: Corporate & Sovereign Strategy

In 2001, Argentine companies had almost no access to capital. The country was heading for default and banks began slashing corporate credit lines. Corporates also had little access to affordable […]

During the 1980s, Martin Schubert managed to find opportunities in every corner in the defaulted debt markets of Latin America. Schubert, a pioneer in emerging market debt trading and chairman […]

CAF, the regional development bank, addresses analysts’ concerns over the stability of its borrowers. CAF’s management says its preferred-creditor status is strong and sufficient to prevent a default on its loan portfolio.

Mexico comforts investors by being the first sovereign to put collective action clauses in a global bond. Whether the move will advance debate over sovereign debt restructurings remains to be seen.

AES Hits Second Default in Brazil The Brazilian subsidiary of global power company AES Corp. in late February defaulted on a $330 million payment due to the government’s BNDES development […]

Few Brazilian companies foresaw the severity of the credit crunch in 2002. Some managed to refinance their obligations in time, many others are fighting to avoid a debt restructuring. Last […]

Globopar Defaults Globopar, the financial arm of Brazilian media conglomerate, Organizações Globo, has defaulted on $1.5 billion in debt, because of Brazil’s falling currency and a stagnant advertising market. Rio […]

Another Argentine Default Argentina defaulted on a World Bank loan in November when it failed to make the full $805 million payment originally due October 15. Instead, the government made an […]

Ecuador’s troubled banks helped precipitate the country’s financial problems in 1999 when the government defaulted on more than $6 billion of international bonds. In the aftermath, nearly all of what […]

The Argentine government’s debt default, followed by
trouble in other deeply indebted countries, has made the debate over how to handle sovereign debt crises one of the most important topics in the world capital markets. Arnold & Porter’s Whitney Debevoise describes how the official sector, investors have positioned themselves on the statutory and contractual approaches. In the end, both will require adjustments.