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Daily Brief

Dec 21, 2007 Issue

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Brazil’s Cosern Preps Debenture Sale

Brazil

Brazilian generator Cosern has filed to sell $164m in 2014 debentures, according to the national debentures system. It has proposed a price of DI plus 60bp. The sale, exp...

Arcor Gets $130m IFC Loan (1)

Argentina

The IFC has signed a $130m A/B loan for Argentine candy maker Arcor. A portion of the loan with a 6-year tenor will be syndicated, with Itau, Santander, BNP Paribas, Caly...

Buy EM Equity, Says Ashmore (1)

Now is the time for active top-down macro managers of EM equity, according to Ashmore, which has more than $31bn invested in EM generally. “The more the global market dis...

Hedge Funds Battered in November (1)

LatAm dedicated hedge funds lost 2.79% in November, worse than the global average but not as bad as some other emerging markets, according to data from HedgeFund.Net (HFN...

Petrobras to Invest BRL55bn in 2008 (1)

Brazil

Brazilian oil giant Petrobras will invest BRL55bn next year, with 87% accounting for domestic investment and the rest to be applied to its international business. The com...

Basic Energy Finances Jamaica Deal with Stock, Debt (1)

M&A

Basic Energy Group’s acquisition of Jamaica Energy Partners (JEP), owner of two power barges in Jamaica, for $92.5m from Conduit was financed using equity and debt, accor...

LP Eyes Masisa Brazil Assets (1)

Brazil

Louisiana-Pacific has signed an MOU with Chile’s Masisa to acquire a 75% stake in oriented strand board (OSB) manufacturing assets located in Ponta Grossa, Brazil. The as...

Pickup in Brazil Inflation Startles Analysts (1)

Brazil

Brazilian inflation figures have surprised analysts this week by coming in at the top end of projected ranges or higher. Going beyond merely seasonal pressures, prices ha...

LatAm Corps Resilient to US Decline: Moody’s

The credit quality of LatAm issuers may depend less on the health of the US economy than is generally assumed, according to Moody’s. Most Moody's-rated LatAm companies ha...

Refinancing Risk Seen Low (1)

LatAm firms may be vulnerable to US economic conditions is if unstable cross-border debt markets make refinancing difficult, says Moody’s. But the agency sees low risk ov...

Bovespa Says No BM&F Merger Talks (1)

People Corporate & Sovereign Strategy

Latin America’s two biggest exchanges – the Bovespa and the BM&F – are not discussing a merger, according to Bovespa CEO Gilberto Mifano. “There are no plans or proposals...

Su Casita Prices MXP1.8bn RMBS (1)

Structured Finance

Mexican mortgage lender Su Casita has priced a MXP1.8bn RMBS in three tranches due 2034. An MXP857m A1 tranche priced at 9.12%, a MXP746m A2 tranche at 9.50% and a MXP223...

GP Puts $150m in Hotel Venture (1)

GP Investments plans to invest $150m to acquire stakes in three Rio de Janeiro hotels. The firm will take 100% of Luxor Regente and Luxor Continental, and a 25% stake in ...

Mexican Timber Firm Plots Bond Sale (1)

Mexico

Timber producer Agropecuaria Santa Genoveva has filed to sell up to MXP2.2bn in 20-year bonds, in one or two offerings. The notes are backed by zero-coupon bonds purchase...

Arcor Gets $130m IFC Loan

Argentina

The IFC has signed a $130m A/B loan for Argentine candy maker Arcor. A portion of the loan with a 6-year tenor will be syndicated, with Itau, Santander, BNP Paribas, Caly...

Basic Energy Finances Jamaica Deal with Stock, Debt

M&A

Basic Energy Group's acquisition of Jamaica Energy Partners (JEP), owner of two power barges in Jamaica, for $92.5m from Conduit was financed using equity and debt, accor...

Bovespa Says No BM&F Merger Talks

People Corporate & Sovereign Strategy

Latin America's two biggest exchanges – the Bovespa and the BM&F – are not discussing a merger, according to Bovespa CEO Gilberto Mifano. "There are no plans or proposals...

Brazil's Cosern Preps Debenture Sale

Brazil

Brazilian generator Cosern has filed to sell $164m in 2014 debentures, according to the national debentures system. It has proposed a price of DI plus 60bp. The sale, exp...

Buy EM Equity, Says Ashmore

Now is the time for active top-down macro managers of EM equity, according to Ashmore, which has more than $31bn invested in EM generally. "The more the global market dis...

GP Puts $150m in Hotel Venture

GP Investments plans to invest $150m to acquire stakes in three Rio de Janeiro hotels. The firm will take 100% of Luxor Regente and Luxor Continental, and a 25% stake in ...

Hedge Funds Battered in November

LatAm dedicated hedge funds lost 2.79% in November, worse than the global average but not as bad as some other emerging markets, according to data from HedgeFund.Net (HFN...

LatAm Corps Resilient to US Decline: Moody's

The credit quality of LatAm issuers may depend less on the health of the US economy than is generally assumed, according to Moody's. Most Moody's-rated LatAm companies ha...

LP Eyes Masisa Brazil Assets

Brazil

Louisiana-Pacific has signed an MOU with Chile's Masisa to acquire a 75% stake in oriented strand board (OSB) manufacturing assets located in Ponta Grossa, Brazil. The as...

Mexican Timber Firm Plots Bond Sale

Mexico

Timber producer Agropecuaria Santa Genoveva has filed to sell up to MXP2.2bn in 20-year bonds, in one or two offerings. The notes are backed by zero-coupon bonds purchase...

Petrobras to Invest BRL55bn in 2008

Brazil

Brazilian oil giant Petrobras will invest BRL55bn next year, with 87% accounting for domestic investment and the rest to be applied to its international business. The com...

Pickup in Brazil Inflation Startles Analysts

Brazil

Brazilian inflation figures have surprised analysts this week by coming in at the top end of projected ranges or higher. Going beyond merely seasonal pressures, prices ha...

Refinancing Risk Seen Low

LatAm firms may be vulnerable to US economic conditions is if unstable cross-border debt markets make refinancing difficult, says Moody's. But the agency sees low risk ov...

Su Casita Prices MXP1.8bn RMBS

Structured Finance

Mexican mortgage lender Su Casita has priced a MXP1.8bn RMBS in three tranches due 2034. An MXP857m A1 tranche priced at 9.12%, a MXP746m A2 tranche at 9.50% and a MXP223...