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Daily Brief

Dec 20, 2007 Issue

AES Gener Postpones Share Sale

Chile

Chilean power generator AES Gener has postponed its sale of 540m additional shares due to market volatility. Its board will set a new date for the sale, which was to take...

Banco Industrial Gets Honduras' Banco del Pais

Central America

Guatemala's Banco Industrial has agreed to acquire 90% of Grupo Financiero Banpais for an undisclosed sum. Senior officials had told said Industrial would pay about $150m...

Bancolombia Ups Banagricola Stake

Equity

Bancolombia said Wednesday that it increased its stake in Banagricola to 98.90% by purchasing 9.59% of the Panamanian bank's shares for $87.7m on the Panama Stock Exchang...

BBVA Bancomer Prices Debut Peso RMBS

Structured Finance

Mexico's BBVA Bancomer has priced MXP2.54bn in 2028 RMBS at 9.05%, in the bank's first ever securitization of this type. Proceeds will further fund the bank's lending abi...

Brazil's Cyrela to Sell Shares, Debentures

Equity

Cyrela Brazil Realty has filed to sell additional shares on the Bovespa, without indicating an amount or date. Credit Suisse will manage the sale. The developer also plan...

CITGO Downgraded on $1bn PDVSA Loan

Citgo has negotiated a $1bn loan to parent PSDVSA to repay debt associated with the Cerro Negro oil project, prompting a downgrade from Fitch. The shop now rates CITGO at...

CSN Unveils Minas Investment

Brazil

Brazil's CSN has signed a letter of intent with the Minas Gerais state government for investments of around BRL9.5bn over the next six years, including projects in mining...

Embraer Sells Loans to Natixis

Brazil

Brazilian airplane maker Embraer has sold a portfolio of loans to Natixis Transport Finance for $194m. The portfolio is made up of bridge financings and contract-backed l...

IDB Backs First Peru RMBS Program

Structured Finance

The IDB has issued a partial credit guarantee of 5% for a $100m RMBS program for Peru's BBVA Banco Continental. The issue is understood to be the first mortgage securitiz...

Moody's Lifts Bladex Rating

Bonds Structured Finance

Moody's has upgraded Bladex to Baa2 (stable) from Baa3 because of increasing core profitability, earnings diversification, and improving asset quality. It also likes the ...

S&P Mulls Mexico Toll Road Downgrade

S&P has revised its outlook on the senior secured global ratings assigned to the debt issues of Autopista Monterrey-Cadereyta, Carreteras Ecatepec-Piramides y Armeria-Man...

S&P Upgrades Edelnor

Argentina

S&P has upgraded Argentina's Edelnor to BB- from B+ mainly due to its improved financial risk profile, which is partly evidenced by significantly higher debt-service cove...

San Antonio Seeks Alternatives to Loan

LatAm oil drilling and services provider San Antonio Oil & Gas, formerly Pride International, has apparently shelved a $600m syndicated loan that faced stiff resistance f...

Santander Chile Places Bonds

Chile

Banco Santander Chile has issued subordinated UF-indexed bonds worth around $78.3m. The 2032 bullet-maturity bonds priced at a spread of 80bp over the 10-year Chilean BCU...

Tempo Prices Below Range

Equity

Brazilian healthcare company Tempo Participaçoes closed out this year's LatAm equity season with a whimper, pricing its IPO at BRL7.00, well below the original midpoint o...

Ternium Sells Non-Core Assets

Argentina

Argentina's Ternium says its subsidiary, IMSA Acero has entered into a stock purchase agreement with BlueScope Steel for the sale of IMSA's interests in Steelscape, ASC P...