Mexico’s state oil company Pemex plans to issue up to 20bn pesos (US$1.8bn) of bonds, most of which will have variable interest rates, in the second quarter this year, the company said in a statement.
Category: Regions
Posted inDaily Brief
Profits Rise at Walmex
Wal-Mart de México boosted profits by 35% in the first quarter, thanks to Mexico’s biggest surge in consumer spending in four years. Net income rose to $166 million. March same-store sales rose 9.5% versus a decline of 2.7% a year earlier. Retail sales rose more than 6% a month between September and January. Walmex wants to open 70 new stores this year.
Posted inDaily Brief
Belize’s Rating Cut
Standard & Poor’s cut Belize’s foreign-currency debt rating two levels to CCC, or eight levels below investment grade, citing the country’s increasing debt load and lack of access to financing. S&P has a “negative” outlook on Belize’s rating. Belize faces amortizations this year of $150 million, compared with $139 million in international reserves. The country’s debt-to-gross domestic product ratio climbed to 97 percent last year, from 85 percent in 2003.
Posted inMagazine
Pemex Places a Perpetual
Pemex made history last September with a bond that was as unusual as it was successful. Mexico’s state-owned oil company, among Latin America’s most frequent and most sophisticated issuers, raised […]
Posted inMagazine
Local Market Appeal
Although more Panamanian companies are eyeing local capital markets for financing, foreign issuers still dominate the landscape.
Posted inMagazine
On an Upward Track
Panama City gained prominence as Latin America’s premier offshore banking center, but it’s not the only game in town anymore.
Posted inMagazine
Rating Game
Although Panama is tantalizingly close to attaining investment-grade status, an upgrade may elude the country for some time yet.
Posted inMagazine
Tomorrow’s Canal
For 91 years, the Panama Canal has virtually defined the country. Now a debate is underway over a $10 billion plan to widen the waterway so it can take bigger ships.
Posted inMagazine
Travel Tips
Taxi! Taxis are plentiful and inexpensive in Panama City. Transfers between Tocumen International Airport and Panama City, a distance of 16 miles, run about $25 for up to two passengers. […]
Posted inMagazine
Colombia Securitizes Mortgages
Securitization – repackaging mortgages into tradable securities – became popular in Colombia long before it started to catch on in other Latin American countries. Now Colombia has taken another important step forward […]