High YieldComeback King
In a year chock full of corporate biggests and bests, one high yield deal stood out as the trailblazer. Mexican glassmaker Vitro's $1 billion dual tranche issue of January 2007 briefly the biggest non-government EM and largest sub-investment grade offer in more than a decade turned the company around and set a major trend. Rewards for both issuer and investor make the B2/B offer the LatinFinance Best Corporate Bond.
The private sector was the most competitive fixed income space in 2007, with América Móvil's 30-year in Mexican pesos, the biggest private sector issue from Argentina since the sovereign default (TGS) and CVRD's monster $3.75 bill
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