Love it or hate it, there was no avoiding the giant, black, viscous elephant in the room of LatAm equity last year.
Investors could be forgiven for forgetting that Mexico had an equity market, or at least one with new issuers.
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.
Braskem’s 2010 acquisition of Quattor Participacoes, Polibutenos and Unipar Comercial forges a new petrochemical giant in the Brazilian petrochemicals market.
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.
BR Properties has acquired a portfolio...
In just three months of extremely choppy external markets, Project Jaguar scored a coup.
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.
China Investment Corporation’s involvement in a consortium buying part of Brazil-based BTG Pactual marks a shift into financial assets for China.
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.
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.
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.
Late 2009 and 2010 will be remembered as a period when equity issuance returned to LatAm with mixed results.
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.
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.
Brazil’s BNDES has become a regular in the DCM after returning in 2008 from a 10-year hiatus.
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.
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.
After suffering derivative losses in the 2008-2009 crisis, Brazil’s Aracruz Celulose was purchased by Votorantim Celulose e Papel.
In June, UK-based private equity giant Apax Partners, through its Dethalas vehicle, closed on its first investment in Brazil.
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.
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.
Bank of Tokyo-Mitsubishi UFJ has named David Gruppo head of LatAm corporate and investment banking, a newly created position.
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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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 11 - 12, 2014 | 朝阳威斯汀酒店, 北京, 中國
Sep 16, 2014 | Westin Chosun, Seoul, South Korea
LA-KIS will examine the rapidly evolving LatAm-Korea investment relationship, the pace & direction...
Sep 17 - 18, 2014 | Hotel Intercontinental, Medellín, Colombia
The only event bringing together the Andean region’s most innovative corporate issuers, the growth...
Sep 25 - 26, 2014 | Velas Vallarta, Puerto Vallarta, Estado de Jalisco, Mexico
The only annual gathering of senior public-sector officials, financiers, sponsors and investors...
Are populist governments like Venezuela & Argentina turning pragmatic?
In some ways
“The greatest value in the next 12 months will be combination of corporates and local currency bonds”
Blaise Antin, TCW
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