Bancomext, the Mexican government's export-import bank, set a new benchmark in November when it issued the first peso issue that can be traded by international investors.
By buying local competitor BBA Creditanstalt, Brazil's
second-largest private sector bank substantially grows its assets
and gains the talent inside a well-run wholesale
The international financial markets have warmed to
Brazilian President-elect Lula's statement-like pronouncements. But he must impose unpopular austerity measures to keep investors satisfied.
Trinidad and Tobago?s embryonic capital markets could
get a much-needed boost, now that the country?s 11-month political stalemate is over.
Pemex, Mexico's national energy company, earns billions of dollars a year. But that prodigious wealth is vanishing
because the government has failed to feed its exploration
Argentina's financial crisis has affected the region's
markets far more deeply than many expected. It has changed the way investors and banks approach risk in Latin America.
A 123-year-old Peruvian brewer has become the prize in
a fight to dominate the region's beer market. The battle involves some of South America's most powerful families.
Gonzalo Sánchez de Lozada is leading the country again
and his main goal is to rescue Bolivia from a debilitating
A federal guarantee for a securitization of real
estate development loans is a significant step in Mexico's
evolution to capital markets-based mortgage
Following an overwhelming victory, Brazil's President-elect Luiz Inácio Lula da Silva now must show investors he can control spending and inflation, and continue to pay the
Italian retail investor's love affair with Argentine bonds ended abruptly when the sovereign left its creditors in the lurch. Angry Italians want someone to compensate them for their losses.
After jumping through legal hoops, the Argentine oil company Tecpetrol successfully restructured $230 million in bank loans. Securitized revenues made the new debt palatable to creditors and the government.
Colombia's Grupo Empresarial Antioqueño is a dominant player in the financial services, food and cement industries. But its complex structure is limiting access to capital, a problem GEA's bosses are trying to overcome.
Unlike their European and American counterparts, Asian
investors entered Latin America slowly and carefully, a strategy that is giving them staying power in these tough
So far, Uruguay has fended off a collapse of its banking system, which has been rocked by fallout from Argentina's
financial crisis. Despite a $3.8 billion multilateral aid package,the outlook remains grim.
With the purchase of Grupo Bital, HSBC finally has the anchor it has wanted in Mexico for several years.Meanwhile, the feisty Bital is getting a much-needed boost to its balance sheet.
The privatization of retirement funds in Latin America has come up short. Except for in Chile, the pioneer of privately managed pension funds, governments are still grappling with huge fund deficits and unfunded liabilities.
After providing a solid supply of money for Latin American bond issuers, the yen market snapped shut last August. Only the Mexican state electricity company has been able to break in.
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How busy will LatAm global-local currency debt issuance be this year?
More than 1 deal/month
1-2 deals all year
There is performance risk that the market is going to have to evaluate and assess. I think that is very healthy for the market because that will enable us to finance a much wider range of projects.
Luis Fernando Andrade, Colombian National Infrastructure Agency
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