Mexican infrastructure development bank Banobras has set the standard and is lighting out for new territories.
Category: Regions
Posted inMagazine
Structured Finance
Mexico Seen Resilient Market jitters emanating from the US real estate sector have had a predictable effect on structured debt issuance, which has endured the same buyers’ strike seen in […]
Posted inMagazine
Secondary Strangled by Regulation
Colombia’s institutional investors say their business is being killed by outdated regulation. Some hope forthcoming changes will break the local capital markets gridlock.
Posted inMagazine
Two Chinas Battle for Influence
Central American and Caribbean infrastructure is a beneficiary of the diplomatic tussle between China and Taiwan.
Posted inDaily Brief
Marubeni Extends Mirant Tender
Marubeni Caribbean Power Holdings (MCPH) has extended until September 24 a cash tender offer for any and all of the $100m aggregate principal amount outstanding of 7.017% notes due 2016 issued by Mirant Trinidad Investments (MTI). MCPH acquired MTI on August 8 and is paying for the buyback with proceeds from a new $110m credit facility. ABN AMRO, Calyon, ING and Mizuho are dealer managers.
Posted inDaily Brief
Mexico’s Ferromex Files MXP5bn Program
Ferrcarril Mexicano, a Mexican railroad car maker, has filed a MXP5bn program of unsecured certificados bursatiles, with maturities of up to 40 years. The notes from a four year program list BBVA Bancomer as placement agent.
Posted inDaily Brief
Colombia Expected To Hold Rates
The Colombian peso has stood out following the Fed rate cuts, gaining about 4% on the dollar to reach COP2,057/USD late Thursday. When the country’s central bank policy committee meets today, analysts expect it to leave the policy rate unchanged at 9.25%, to assess the impact of seven consecutive 25bp monthly rate hikes and of general market volatility.
Posted inDaily Brief
Canadian Miner Buys Peru Project
Toronto-based Iberian Minerals is buying a copper mine in Peru from Dutch metals trader Trafigura Beheer. Iberian will pay about $119m in shares for the Condestable project, south of Lima. In the deal, Trafigura increases its stake in Iberian to 40%, from 20%., and maintains a 46% net profit interest from 2011 to 2014. The transaction awaits Trafigura minority shareholder approval.
Posted inDaily Brief
PSEG Sheds Peru Hydro Generator
New Jersey utility Public Service Enterprise Group (PSEG) is selling its Electroandes hydroelectric generation company in Peru to Norway’s Statkraft Norfund Power Invest. SN Power will pay $284m and assume $106m of debt in the deal expected to close in October. Electroandes has four hydro facilities totaling 180MW and 437 miles of transmission lines. The sale is part of a PSEG plan to sell assets in the region while prices are high. Last week, it announced plans to sell interests in electricity distribution businesses in Chile and Peru.
Posted inDaily Brief
DEPFA Hires for LatAm SEF
DEPFA has hired Richard Heiler at its Frankfurt office to build up origination and execution capabilities in Europe, importer marketing in Latin America, Africa and parts of Europe and structuring of complex transactions. He joins the global structured export finance (SEF) team as a MD reporting to Pradeep Mathur, global head of SEF. Heiler was previously with Santander in Madrid working on structured trade and export finance.