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Daily Brief

Dec 07, 2007 Issue

AES Gener Sells $220m Bonds

Chile

Chilean generator AES Gener has issued local bonds worth about $220m. It priced $47m in 2015 UF-indexed bonds, at 3.85%, and $173m in 2028 UF-indexed bonds at 4.3%. Proce...

Bladex Names New CFO

Bonds Structured Finance

Bladex, the Panama-based supranational bank, has named Jaime Celorio as its CFO, effective February 22. Celorio was previously with Merrill Lynch and Goldman Sachs and re...

Cabei Arranging Panama Hydro Loan

Bonds Structured Finance

Cabei, the Honduras-based multilateral, is arranging a loan worth up to $52.1m for Colombia's Hidroelectrica del Teribe. Proceeds will finance a 31.3MW hydroelectric proj...

Cabei Jumps a Notch From Fitch

Bonds Structured Finance

Fitch has upgraded Cabei to A- (stable) from BBB+. The agency notes an improvement in the credit quality of Cabei's founding members, a strong capital base despite vigoro...

Colombia's Banco de Credito Prices IPO

Equity

Banco de Credito, a Bogota-based bank and financial institution, raised $113m equivalent in an IPO priced Wednesday and finalized Thursday. Demand for the shares was hear...

Cosan Gets Green Light for Equity Raise

Brazil

Cosan said Thursday it obtained shareholder approval to raise BRL1.74bn in a follow-on offering. It also agreed with its Brazilian investors to allow them voting rights o...

EEB Gets $100m CAF Loan for Ecogas

M&A

Colombian state-owned power company EEB has received a $100m loan from CAF to complete the financing of its acquisition of the Ecogas network. Terms of the loan were not ...

FEMSA Places MXP6bn Bonds; Pipeline Builds

Mexico

Mexican brewer Femsa priced Wednesday MXP6bn in local bonds in two tranches. A MXP2.5bn 2017 UDI-denominated tranche priced at 4.21%, via HSBC and Santander. A MXP3.5bn 2...

Investec Launches New EM Fund

Investec Asset Management, the specialist investment manager with more than $64bn under management, has launched a new EM debt fund based in Guernsey. It will mirror an e...

ISA Brings Follow-On

Colombia

Colombia's state-owned power utility Interconexion Electrica SA will today announce the pricing on up to 66m shares it is offering local investors in its first return to ...

Itau Lowers OHL on Tollroads

Brazil

Itau has cut its price target for OHL Brasil, the Brazilian concessions operating arm of Spain's OHL, following analysis of future performance in the wake of a winning bi...

JBS in Italy JV

Brazil

Brazilian beef producer JBS is acquiring a 50% stake in Inalca, a unit of Italy's Cremonini, for EUR225m as part of partnership, the companies said. JBS will buy new and ...

Mexico Corporates to See Issuance Boom: BBVA

Mexico

An increase in public works spending and local institutional investor demand should bring Mexico about MXP160bn in new corporate debt in 2008, an increase of 15%, accordi...

Nicaragua Hopes to Attract FDI

Corporate & Sovereign Strategy

Even though foreign investors got almost nothing back from Nicaragua's restructuring, the government is hopeful they will return to invest in the small Central American e...

Nicaragua Scalps Investors in Workout

Corporate & Sovereign Strategy

Nicaragua has negotiated a deal with almost all of its creditors for a whopping 95.5% haircut on $1.4bn in debt. From the overall amount of eligible claims of $1.4bn, mor...

S&P Raises Braskem

M&A

S&P has upgraded Brazil-based petrochemical company Braskem to BB+ (stable) from BB and taken it off CreditWatch. The rating action reflects Braskem's improved business p...

Soriana to Buy Rival's Stores

Mexico

Mexican retailer Soriana has agreed to acquire the Mexican and US stores of Grupo Gigante for $1.35bn, plus inventories and rent on locales. A sale to one of several larg...