Trinidad and Tobago’s National Gas Company is developing new markets and predicts growth in pipeline projects. It is not planning to raise any new funds this year.
Category: Regions
Posted inMagazine
Transferring Power
Colombia has raised close to $6 billion in the past 18 months by selling state-owned assets. Proceeds have retired debt and there is more for sale in the power sector.
Posted inMagazine
Striving for Critical Mass
As stock markets around the world consolidate, the relatively miniscule Caribbean bolsas are trying to link up. The three biggest hope to pave the way to full regional integration.
Posted inMagazine
Future Hinges on Politics
Future Hinges on Uncertain Politics
Mexico’s President Calderón must defeat the very forces that swept him into office – the business community – to solidify his administration and spur an economy that struggles to grow by 3%.
Posted inMagazine
Pension Fund Revolution
Decisions taken in 2007 will greatly alter Mexico’s pension funds industry, boosting private funds’ ability to take risk and creating a new state fund to compete with them.
Posted inDaily Brief
BofA to Head Syndications from Mexico
In the wake of Warren Weissman’s departure, BofA is taking a step further into local markets by moving leadership of its loan syndications business to the Mexico office. Jaime Lopez, a BofA credit portfolio manager, replaces Weissman, who was based in New York, and will head syndications from Mexico City. BofA has been a selective player in LatAm capital markets, limiting its cross-border presence to loan syndications for Mexican credits. Other banks, such as Scotiabank have also moved to establish a stronger local presence in Mexico as the peso lending business picks up.
Posted inDaily Brief
Telefonica Says Committed to Ecuador
Spain’s Telefónica is going through some tough talks with Ecuador’s government to renew its concession, but it is hopeful of finding a solution. “We are committed to the future of the Ecuadorian telecoms sector,” a Telefónica spokesman tells LatinFinance. The telecom says it has spent about $1bn in Ecuador since setting up shop there in November 2004 and plans to spend more than €55m next year, up from an average annual €50m. However, president Rafael Correa claims that foreign firms are charging too much for poor service and he is pushing for a better deal. Telefónica claims to be improving its service and pricing and to be in better shape than other operators. “We feel we have a better position than our competitor América Móvil,” says the spokesman. He adds that Telefónica does not have the tax issues of its competitor. “We know it’s a difficult negotiation,” the spokesman adds of the talks with the government. He says that he does not know when negotiations will conclude.
Posted inDaily Brief
Maxcom Retaps 2014s For $25m
Mexico’s Maxcom Telecom Tuesday retapped its 2014 non-call 4 bonds at 103 to yield 10.242%, bringing the total outstanding to $200m. Bankers close to the deal say the offering was driven by reverse inquiry. Maxcom is understood to have fulfilled its capital raising requirements for the year. In December 2006, the company issued $150m in the notes, and retapped them again in March for $25m. Morgan Stanley sole-led the deal, and will be underwriting Maxcom’s planned IPO, which was filed July 23 with the SEC and the Mexican exchange. In the US, Maxcom is looking to raise up to $175m through the equity sale.
Posted inDaily Brief
Morgan Stanley Prices MXP1.5bn Bond
Morgan Stanley has issued MXP1.5bn in 20-year notes, according to investors who did not participate. The bond was priced Monday, apparently with limited distribution and marketing, at par to yield 65bp over the comparable MBono, which resulted in a yield to maturity of 8.47%. Morgan Stanley followed up with a US domestic issuance Tuesday of $1.25bn in 5-year, 5.75% notes at 79bp over Treasuries to yield 5.752%. Proceeds are for general funding purposes.