French construction company Vinci has sold its 34.25% stake in Mexican partner Seta for $38 million to Mexico’s ICA. Seta runs 13 airports in the north-east of Mexico. The purchase by ICA takes the Mexican builder’s stake in Seta to around 51%.
Category: Regions
Posted inDaily Brief
Homex Shareholders To Sell $230 Million Stock
The main shareholders of Homex, one of Mexico’s main housing constructors, are to sell around $230 million worth of their stockholding, increasing the amount of the company’s shares trading on the Mexican and US exchanges from 32% up to 44%. The increase in available shares will improve liquidity of the company’s stock.
Posted inDaily Brief
Mexico: Demand For More Long-term Debt
Increasing demand for more long-term local currency debt, particularly from pension funds, may prompt the Mexican government to issue 30-year peso-denominated bonds for the first time next year. Mexico’s local currency debt rating was raised from BBB to BBB+ by Fitch Ratings at the beginning of December.
Posted inDaily Brief
Colombian Sodimac To Issue Bonds
Colombia’s Sodimac plans to issue around 100 billion pesos ($43.7 million) bonds, with a first tranche to be offered in the first half of next year. This will be the first time the home improvement retailer has raised finance through a bond issuance.
Posted inDaily Brief
Morales Reaffirms State Control of Energy
President-elect of Bolivia — left-wing cocalero leader Evo Morales — who will take office in January next year, has reaffirmed his determination to take control of the country’s energy industry but says he will respect the assets of international oil companies operating in Bolivia. Morales campaigned on the issue of nationalizing the country’s natural resources, in particular hydrocarbons. Spanish oil company Repsol YPF, which is Bolivia’s largest foreign investor with around $1.2 billion assets, has confirmed that it plans to remain in the country and continue with its operations.
Posted inDaily Brief
Colombia To Issue Samurai Bonds
Colombia is planning to issue Y22.5 billion ($195 million) of Samurai bonds, the first time the sovereign has done so since 2001, and the first Latin American country to issue such instruments since Argentina defaulted on its Japanese-currency debt in 2001 and dampened Japanese investor interest. The principal and part of the interest will be guaranteed in Japan by the Japan Bank for International Cooperation (JBIC). The issue will be arranged by Mizuho Corporate Bank, which will offer the bonds to Japanese regional banks and insurance companies through a private placement.
Posted inDaily Brief
Panama Economic Growth 5.9% Q3
Panama’s economy grew by 5.9% in the third quarter of the year, and grew by 6.1% in the first 9 months of year to September, compared with the same period in 2004. The growth was driven by the country’s booming re-export business, and the soaring export business through the Panama Canal.
Posted inDaily Brief
Citibank Colombia To Issue $250 Million Bonds
Citibank Colombia is to issue peso-denominated bonds worth $250 million. As at the end of October Citibank Colombia had assets worth $1.48 billion; earnings for the year to October were up 18.3% on 2004 to $41.9 million.
Posted inDaily Brief
Citibank Colombia To Issue $250 Million Bonds (1)
Citibank Colombia is to issue peso-denominated bonds worth $250 million. As at the end of October Citibank Colombia had assets worth $1.48 billion; earnings for the year to October were up 18.3% on 2004 to $41.9 million.
Posted inDaily Brief
Colombia Deficit Drops
Colombia’s central government deficit fell slightly in the first nine months of the year compared with last year. The deficit fell from 2.9% of GDP in 2004 to 2.8% of GDP. The government had targeted a deficit for the year of 5.5%, something it now expects to beat. It said the deficit drop was thanks to higher tax revenues and more efficient spending.