Uruguay, where GDP growth last year hit a five-year average of 6.1%, is the envy of many larger economies in the region. Yet the greater dynamism in its economy reflected […]
Category: Structured Finance
Posted inMagazine
Argentina Best Bank: Banco Santander Río
The Argentine government doesn¹t make it easy for banks. Although they mostly remain in good shape, a slowing economy has thrown up yet another challenge for the country¹s financial institutions. […]
Posted inMagazine
Venezuela Best Bank: BBVA Provincial
Venezuela presents a challenging environment for any bank. But high margins tend to make up for problems caused by inflation and an uncertain operating climate. October¹s re election of Hugo […]
Posted inMagazine
Bank of the Year & Best Bank Brazil: Bradesco
With the environment for Brazil’s big banks getting ever trickier, Bradesco’s diversification and defensive nature leave it well placed to deal with government meddling and lower profitability
Posted inMagazine
Bolivia Best Bank: Banco Mercantil Santa Cruz
Bolivia¹s financial system has advanced steadily this past year. A healthy pickup in GDP growth to 5.1% in 2011 from 4.1% in 2010 has lifted the economy and […]
Posted inMagazine
Chile Best Bank: Banco de Chile
In a market peppered with other well-positioned banks, Banco de Chile remains one of the country¹s strongest, with a 432-branch network and 1.7 million customers some 22% of the […]
Posted inDaily Brief
Fovissste Brings Well-Bid RMBS
While cross-border debt issuance has remained on hold this week, Mexico’s bond market remains open for business, with government housing lender Fovissste raising MXP4.99bn ($382m). The UDI-denominated RMBS offering saw 2.4x demand. The 30.3-year bond with 5.4-year average pays 3.56%, or Udibonos+267bp, inside of Udibono+270bp expectations. Proceeds are to fund lending operations. BBVA Bancomer, Banorte-Ixe and Santander managed the sale, rated AAA on a national scale. The government-backed lender previously visited the market in August, raising MXP4.8bn in 2042 notes paying 3.85%. US stock and bond Markets were expected to open again Wednesday following closure due to severe weather.
Posted inDaily Brief
IAMSA Set for Bond
Mexico’s IAMSA is scheduled to price a MXP3.5bn ($268m) securitization in the domestic bond market today. The bus operator is looking at yield in the area of Mbonos+390bp for the 15-year bond, according to people familiar with the sale. The transaction is backed by IAMSA’s 1,438 buses and future ticket sale revenues, and will raise funds to repay bank debt. Santander is managing the sale, rated AAA/AA minus on a national scale.
Posted inDaily Brief
Bus Operator Ready for Securitization
Price talk for IAMSA’s 15-year bond sale is Mbonos+390bp-area, according to people familiar with the sale. The bus operator will look to price the MXP3.5bn ($268m) securitization in the Mexican domestic bond market on Wednesday. The transaction is backed by the bus operator’s 1,438 buses and future ticket sale revenues, and will raise funds to repay bank debt. Santander is managing the sale, rated AAA/AA minus on a national scale.
Posted inDaily Brief
Fovissste Set for RMBS
Mexican government housing lender Fovissste is looking at Udibono+270bp-area pricing for an up to MXP5bn ($382m) RMBS sale scheduled to price today, according a person familiar with the transaction. The deal has a 30-year maturity, and is backed by the agency’s mortgages. BBVA Bancomer, Banorte-Ixe and Santander are managing the sale, rated AAA on a national scale. The government-backed lender last visited the market in August, raising MXP4.8bn in 2042 notes paying 3.85%.