LatinFinance Deals of the Year

Latin America’s capital markets users have much to be proud of in the past year. Companies and sovereign financing officials piled into bond markets while conditions were ripe, driving their total funding costs lower through new issues and exchange offers. Numerous first-time issuers raised money in the debt markets, as did junk-rated borrowers that would have been put off by high borrowing costs under other circumstances.

In a year with such momentum in capital markets, records were knocked down at an alarming pace. Over the coming pages, we set out the deals and institutions that stood out amid an already impressive market backdrop. The winners were selected by LatinFinance’s editorial team following an extensive process that included detailed discussions with market participants and a close review of data.

The deals represent the most impressive transactions executed by companies and government borrowers in Latin America and the Caribbean between October 1, 2012, and September 30, 2013. The selection process took into account the market significance or strategic importance of deals, as well as how they were structured and executed.

Banks’ and law firms’ roles in these winning deals — as well as the volume and diversity of trades they worked on and their execution role on particularly sophisticated, successful transactions — went toward determining the winning institutions.
 
2014 begins with a markedly different environment to a year ago. As the global economic and monetary cycle tips, Latin American companies and countries are set to see a cooler market reception to their deals. The year ahead may not be as full of superlatives as the one just gone. But it does open the door to ever-greater sophistication: this year, finding the right timing and the best structure will be critical.

2013 Deals of the Year Winners:

Want to know more about the selection process? Full details on our methodology are here.



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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management