Bond sales were tough for Latin American borrowers in parts of
2013, especially given the mid-year market rout. But conditions
may become even harder this year, says Chris Gilfond, head of
Latin American capital markets at Citi.
BOND HOUSE: Citi
Choppy markets for bond issuers in 2013 demanded creative solutions to get deals done. That’s
unlikely to change in the year ahead
"At the end of the day we are hoping for the best, but
planning for choppy markets," he says.
Funding rates have become more expensive - and are likely to
become more so, he tells LatinFinance. "We expect rates,
quarter by quarter, to continue to rise and that will result in
volatility and an uncertain market environment, which will
require a careful approach and more creativity than we
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