Investors could be forgiven for forgetting that Mexico had an equity market, or at least one with new issuers.
In June, UK-based private equity giant Apax Partners, through its Dethalas vehicle, closed on its first investment in Brazil.
Love it or hate it, there was no avoiding the giant, black, viscous elephant in the room of LatAm equity last year.
Braskem’s 2010 acquisition of Quattor Participacoes, Polibutenos and Unipar Comercial forges a new petrochemical giant in the Brazilian petrochemicals market.
International banks are eager to re-enter the LatAm bank market. But cost of funds, spread compression and better DCM terms will keep a lid on volume.
Uruguay hopes to invigorate local capital markets with new legislation. The country’s vice president says public companies may soon list minority stakes locally.
Chile’s Claro y Cía, established in 1880, is no stranger to complex M&A. In 2010 it acted as legal counsel for LAN Airlines in its merger with Brazil’s TAM that promises to be the largest airline in the region.
In a year of significantly increased Chinese buying of LatAm assets, CNOOC’s purchase of 50% of Bridas was one of the largest South-South deals.
Biggest, tightest, longest, cheapest. Superlatives abound when describing LatAm capital markets and advisory for the last 12 months, and many bankers expect the good times to continue rolling.
The State of Mexico (Edomex) in August issued a much anticipated 4.1 billion peso 20-year local bond, the first securitization of future flows of income from residential property fees from a Mexican state.
BR Properties has acquired a portfolio...
In just three months of extremely choppy external markets, Project Jaguar scored a coup.
China Investment Corporation’s involvement in a consortium buying part of Brazil-based BTG Pactual marks a shift into financial assets for China.
Bank of Tokyo-Mitsubishi UFJ has named David Gruppo head of LatAm corporate and investment banking, a newly created position.
Revived European debt woes put a lid on last yearâ€™s bumper DCM volume, which was fuelled by unprecedented fund inflows and tantalizingly low rates for borrowers.
After a turbulent 2010, equity bankers and investors are hoping for a smoother 2011, with continued strong volume.
Aggressive in expansion, conservative with financing, Grupo México aims to double copper output in the next five years. Its CFO does not expect fresh fundraising.
New York-based Cleary Gottlieb Steen & Hamilton is no stranger to megadeals.
In the year to November 29, a total of 1,221 M&A deals worth $244.6 billion involving a LatAm acquirer or target had taken place, according to Dealogic.
A $1.5 billion dual-currency bond issue in July 2010 of dollar denominated and global-local notes marked the re-emergence of Chile, a historically infrequent issuer, and set a benchmark for its corporates.
Brazil’s BNDES has become a regular in the DCM after returning in 2008 from a 10-year hiatus.
Southern Copper Corporation (SCC) saw jumbo demand for a $1.5 billion April 2010 issue of new 10 and 30-year bonds, which were tightly priced but still traded up.
América Móvil (AMX) is a frequent star of LatAm issuance, beloved by investors despite its razor thin spread and feared by bankers for its rigorous execution standards.
At a time when the syndicated loan market was still thawing from a deep, crisis-driven freeze, Americas Mining Corporation (AMC), a wholly-owned subsidiary of Grupo México, provided an encouraging sign.
After suffering derivative losses in the 2008-2009 crisis, Brazil’s Aracruz Celulose was purchased by Votorantim Celulose e Papel.
Colombia paved the way for LatAm issuers in April with an $800 million 2021 equivalent global TES bond. It braved the market to issue the first global local currency deal from LatAm since 2007, according to Dealogic.
Late 2009 and 2010 will be remembered as a period when equity issuance returned to LatAm with mixed results.
Televisa’s partnership with Nextel may be off the table. But the Mexican media conglomerate is still expected to pursue mobile to unlock value in its content.
The merger of Brazil’s two largest retailers – Casas Bahia and Globex, a unit of Pão de Açúcar – was no easy task.
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May 15 - 16, 2014 | Conrad, Miami, United States
The one-stop shop for the Latin American securitization and structured finance market. This event...
Jun 3, 2014 | The Pierre, New York City
The only event of its kind connecting LatAm financial institution issuers with international...
Jul 22 - 23, 2014 | InterContinental, Sydney, Australia
An in depth look at the rapidly evolving state of the Latin America Australia investment...
Aug 12, 2014 | Hyatt Regency, Johannesburg, South Africa
The only Summit designed to build new relationships at the highest level, and to assist the...
Sep 11 - 12, 2014 | Westin Beijing Chaoyang, Beijing, China
LA-CIF is the leading event connecting Latin America and China. Through an invitation-only,...
Sep 17 - 18, 2014 | Hotel Intercontinental, Medellín, Colombia
The only event bringing together the Andean region’s most innovative corporate issuers, the growth...
Will ABS become more interesting for LatAm borrowers as US monetary policy normalizes?
Not yet - unsecured rates are still low
At a fundamental level, the issue is how to generate healthy returns in the medium to long term. Policy holders can see their fund go down over the course of a week or a month, but what we really should be looking at is returns over 20 or 30 years.
Daniel Schydlowsky, Peru’s banking, insurance and private pension fund regulator
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