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Daily Brief

Dec 14, 2006 Issue

Brazil Moves To Open Up Reinsurance Sector

Brazil

Brazil's Chamber of Deputies, the lower house, has approved a bill ending the monopoly of domestic reinsurance by state-run reinsurer Instituto de Resseguros do Brasil (I...

Citigroup Buys Grupo Cuscatlan

Following weeks of speculation, Citigroup has confimed it is buying the subsidiaries of Grupo Cuscatlan from Corporacion UBC Internacional for $1.51 billion in cash and s...

Ence Moves Paper Mill To Colonia

Spanish pulp company Ence has announced further relocation details of its proposed pulp and paper mill in Uruguay. The new mill will be built at Colonia in the south west...

Macro Bansud Plans More Bonds

Argentina

Argentine private bank Banco Macro Bansud, is planning to sell up to $250 million of 10-year bonds next year, according to Bloomberg. On Monday Banco Macro continued its ...

Maxcom Sells $150 Million Senior Notes

Mexico

Mexican telcoms firm Maxcom sold $150 million of senior-secured notes Wednesday, priced at par to yield 11%. The eight-year paper matures December 15, 2014 and the notes ...

Raboinvestments Chile Sells $105 Million Local Bonds

Chile

Raboinvestments Chile, the local investment banking unit of Dutch bank Rabobank, sold $105 million worth of local inflation-adjusted bonds (UF3 million) Wednesday at a re...

São Carlos IPO Raises $219 Million

Brazil

Brazilian real estate developer São Carlos Empreendimentos e Participações has raised $219 million (469 million reais) via the issue of 24 million common shares on Bovesp...