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Daily Brief

Dec 10, 2007 Issue

Bancaribe Slips to B

Corporate & Sovereign Strategy

Fitch has cut downgraded Banco del Caribe's (Bancaribe) long-term issuer default rating to B (negative) from B+ to reflect a fall in capitalization after strong growth in...

Brascan in Talks to Acquire Malls

Brazil

Brazilian private equity investor Brascan is in talks to acquire the Plaza network of shopping malls in Brazil for BRL1bn, according to local press reports. Plaza control...

Cencosud Gets in Early with $480m Loan

M&A

Chilean retailer Cencosud will launch Tuesday syndication of a $480m 5-year amortizing loan whose proceeds will pay for the acquisition of Brazilian grocery chain G. Barb...

Central Banks on Hold

Mexico

Mexico Friday became the latest in a slew of Central Banks to hold monetary policy. Banxico stuck to a 7.50% tasa de fondeo, with a neutral bias. It followed last week's ...

Colombia's Titularizadora Preps Mortgage Securitization

Structured Finance

Colombian secondary mortgage market company Titularizadora Colombiana expects to sell about COP340bn ($168m) in UVR-denominated MBS on Wednesday. The portfolio consists o...

Conduit Sells Mexican Hydro Assets to Enel

Funds

Private equity firm Conduit Capital Partners has sold its 70% stake in Inelec, a 52MW portfolio of three hydroelectric power plants in Western Mexico to a subsidiary of I...

Costa Rica's ICE to Raise $380m in Long-Dated Loans

Bonds Structured Finance

ICE, Costa Rica's national power and telecom company, will in the next two months raise $381m in long-term financing via the IDB and the syndicated loan market to support...

Eletropaulo Sells BRL200m Bonds

Brazil

AES Corp's Brazilian unit Eletropaulo has started the sale of a BRL200m 2018 non-convertible debenture issue, according to Brazil's debenture system. The notes, rated brA...

Equity Flows Bounce Back

Funds

Flows into LatAm equity funds have rebounded, with those investors absorbing $467.8m inflows in the first week of December, according to EPFR Global. "Risk appetite retur...

Fitch Mulls Banco de Costa Rica Upgrade

Fitch has revised to positive from stable the BB rating on Banco de Costa Rica (BCR) to reflect "the upside potential in BCR's individual rating, should the bank sustain ...

Fresenius Kabi Buying Laboratorio Sanderson

Chile

Fresenius Kabi, a unit of Germany's Fresenius, is acquiring Laboratorio Sanderson, the Chilean IV drugs and infusions firm. Privately owned Sanderson employs around 375 p...

Triple-S Scales Back IPO

Equity

Puerto Rico's Triple-S Management has priced a smaller than expected $200m IPO through Credit Suisse and UBS. The deal involved 14m shares of its Class B common stock, 5m...

Votorantim Targets $1.3bn in Loan Takeout

Brazil

Brazil's Grupo Votorantim is in the market with a $1.3bn-$1.4bn credit facility in three tranches: 5 and 7-year trade related pieces, and a 3-year working capital facilit...