Australian miner EnviroGold says it plans to increase its stake in Dominican Republic-based gold project Las Lagunas to 100% from 92.5%. It does not disclose the price, which will be paid in 3 tranches over 2 years. The company also secured financing of AUD37.5m from Macquarie to finance the project’s development, dependent on a successful acquisition of the remaining stake. Terms of the financing are not being disclosed and company officials could not be reached for comment.
Category: Regions
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Best Multilateral
Corporación Andina de Fomento (CAF) may be 40 this year, but it shows no signs of slowing.
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Best Bank – El Salvador
El Salvador’s Banco Agrícola, part of Colombia’s Bancolombia since 2007, is expected to end this year with results that compare favorably with those obtained at the end of 2009, says Fitch, which has an AA+ (stable) local rating on the bank.
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Best Bank – Jamaica
Jamaica’s National Commercial Bank (NCB) has passed the test of a weak local economy and a sovereign debt restructuring relatively unscathed, as profitability and liquidity remain at acceptable levels.
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Best Bank – Ecuador
Ecuador’s Banco Pichincha has been busy expanding within and beyond the country’s borders. At the same time, it has been able to keep its financial indicators in line with or better than that of the banking system as a whole.
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Central America: New Hopes for Integration
Crime and political rifts continue to block progress towards unity in Central America. Strides towards forging critical mass have been made, but full integration is lagging.
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Best Bank – Bolivia
Bolivia’s small size has meant its banks suffered few effects of the credit crisis in 2008 and 2009.
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Best Bank – Trinidad & Tobago
Trinidad & Tobago’s (T&T) Republic Bank has been able to grow its assets despite a weak economy and reduction in its loan portfolio.
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Infrastructure Investment: The Big Shortfall
As LatAm stares down a growing list of infrastructure needs, builders and governments hope private lenders return. The only certainty is multilateral and state lending.
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People: Brazilian IB Moves
Eduardo Centola has joined UBS as CEO of the investment bank in Brazil, where the Swiss bank is focused on rebuilding its coverage.