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Daily Brief

Dec 31, 2007 Issue

Ambev Launches Share Repurchase (1)

Brazil

Brazil’s AmBev has launched a voluntary offer to purchase any or all outstanding shares of its subsidiary Quilmes Industrial not owned by AmBev or other subsidiaries. The...

Cross Border Bond Issuers in Wait and See Mode (1)

All eyes will be on the market’s performance in the first two weeks of January, with several of last year’s dropped cross border bond sales ready to go if things are look...

Brazilian Debenture Pipeline Builds (1)

Brazil

Meanwhile, the Brazilian local bond market is expected to continue to churn out new deals, seemingly unhindered by international market conditions. Power company Coelba p...

Gigante to Buy Back $237m in Bonds (1)

Bonds

Mexican retailer Grupo Gigante plans to buy back $237.6m of its 8.75% 2016 senior notes, tendered for in a buyback offer worth $260m. Also last week, Gigante shareholders...

Colombia TES Issuance to Rise 18% in 2008 (1)

Colombia

In 2008, Colombia plans to issue COP22.6trn in TES, marking an 18% pickup in issuance of the country’s local currency bonds. In 2007, Colombia raised COP19.1trn, which re...

FARAC Retail Syndication Pokes Along (1)

Loans

Retail syndication of a $3.7bn peso-equivalent loan for Mexico’s FARAC toll road concession is moving along slowly with little fanfare. Some MLAs want to reduce and are a...

Mizuho Targets LatAm Borrowers for Yen Loans (1)

Asia

Mizuho is looking to take LatAm corporates and financial borrowers to the Japanese syndicated loan market. The idea is to match increasing appetite from Japanese lenders ...

BNDES to Lend BRL2.6bn for Hydro Project (1)

Brazil

Brazil’s development bank BNDES has approved a BRL2.6bn loan to the Usina Hidreletrica Estreito, a hydro project in the state of Tocantins being run by a consortium of in...

Petrobras Acquires Argentina Oil Assets (1)

Argentina

Houston-based Noble Energy agreed to sell its interest in the El Tordillo, La Tapera, and Puesto Quiroga concessions in southern Argentina to a unit of Petrobras for $117...

Moody's Raises Loma Negra (1)

Moody's has upgraded Loma Negra's global local currency corporate family rating to Ba3 (stable) from B2, while confirming its Ba3 global local currency rating and Aa2.ar ...

HSBC Promotes Mato to Run EM Financing (1)

Bonds

HSBC has appointed LatAm veteran Gerardo Mato to head of financing and advisory for the emerging markets. He will run advisory, equity and DCM in EM, while also leading t...

Moody’s Lowers GMAC Mexico

Mexico

Moody's has downgraded GMAC Mexicana SOFOL's local long- term debt rating to A3 from A1, and GMAC Financiera SOFOL's to A3 from A1, it said. The action followed the agen...

Bovespa to Ramp up BDR Program (1)

People Corporate & Sovereign Strategy

The Bovespa wants to attract more business from non-Brazilian issuers, Gilberto Mifano, the exchange’s CEO, tells LatinFinance. The exchange, which this year went public ...

Brazil Leads Surge in LatAm Equity Flows (1)

Funds

Flows into LatAm equity surged in 2007, led by a dramatic pickup in allocations to Brazil funds in 2007, according to EPFR. LatAm saw inflows of $10.2bn in the year, comp...

Ambev Launches Share Repurchase

Brazil

Brazil's AmBev has launched a voluntary offer to purchase any or all outstanding shares of its subsidiary Quilmes Industrial not owned by AmBev or other subsidiaries. The...

BNDES to Lend BRL2.6bn for Hydro Project

Brazil

Brazil's development bank BNDES has approved a BRL2.6bn loan to the Usina Hidreletrica Estreito, a hydro project in the state of Tocantins being run by a consortium of in...

Bovespa to Ramp up BDR Program

People Corporate & Sovereign Strategy

The Bovespa wants to attract more business from non-Brazilian issuers, Gilberto Mifano, the exchange's CEO, tells LatinFinance. The exchange, which this year went public ...

Brazil Leads Surge in LatAm Equity Flows

Funds

Flows into LatAm equity surged in 2007, led by a dramatic pickup in allocations to Brazil funds, according to EPFR. LatAm saw inflows of $10.2bn in the year, compared to ...

Brazilian Debenture Pipeline Builds

Brazil

Meanwhile, the Brazilian local bond market is expected to continue to churn out new deals, seemingly unhindered by international market conditions. Power company Coelba p...

Colombia TES Issuance to Rise 18% in 2008

Colombia

In 2008, Colombia plans to issue COP22.6trn in TES, marking an 18% pickup in issuance of the country's local currency bonds. In 2007, Colombia raised COP19.1trn, which re...

Cross Border Bond Issuers in Wait and See Mode

All eyes will be on the market's performance in the first two weeks of January, with several of last year's dropped cross border bond sales ready to go if things are look...

FARAC Retail Syndication Pokes Along

Loans

Retail syndication of a $3.7bn peso-equivalent loan for Mexico's FARAC toll road concession is moving along slowly with little fanfare. Some MLAs want to reduce and are a...

Gigante to Buy Back $237m in Bonds

Bonds

Mexican retailer Grupo Gigante plans to buy back $237.6m of its 8.75% 2016 senior notes, tendered for in a buyback offer worth $260m. Also last week, Gigante shareholders...

HSBC Promotes Mato to Run EM Financing

Bonds

HSBC has appointed LatAm veteran Gerardo Mato to head of financing and advisory for the emerging markets. He will run advisory, equity and DCM in EM, while also leading t...

Mizuho Targets LatAm Borrowers for Yen Loans

Asia

Mizuho is looking to take LatAm corporates and financial borrowers to the Japanese syndicated loan market. The idea is to match increasing appetite from Japanese lenders ...

Moody's Lowers GMAC Mexico

Mexico

Moody's has downgraded GMAC Mexicana SOFOL's local long- term debt rating to A3 from A1, and GMAC Financiera SOFOL's to A3 from A1, it said. The action followed the agen...

Moody's Raises Loma Negra

Moody's has upgraded Loma Negra's global local currency corporate family rating to Ba3 (stable) from B2, while confirming its Ba3 global local currency rating and Aa2.ar ...

Petrobras Acquires Argentina Oil Assets

Argentina

Houston-based Noble Energy agreed to sell its interest in the El Tordillo, La Tapera, and Puesto Quiroga concessions in southern Argentina to a unit of Petrobras for $117...