LatAm Loan Market Braces for Tougher Times
Nov 11, 2011
LatAm’s loan market is set for tougher times ahead as European banks retrench and scramble to meet shortfalls in capital buffers amid problems back home. Stricter covenants, higher margins and less support from lenders may be some of the consequences for the region’s borrowers. Banks have already pushed back on deals like Telemar’s 5-year revolver, which was downsized to $1bn from $1.5bn. And while some borrowers like Mexican petrochemical company Petrotemex are still looking to amend structures in...
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