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Daily Brief

Dec 19, 2007 Issue

Bogota to Borrow $100m for Infrastructure

Bonds Structured Finance

The District of Bogota has received Colombian government approval for $100m in loans from CAF and the IFC and awaits the final approval from the multilaterals. "We expect...

Bradesco Plots Share Sale

Brazil

Brazil's Bradesco plans to raise as much as BRL1.2bn in a sale of 27.9m additional shares to existing shareholders. It plans to sell the shares at BRL43 each. The bank wi...

Braskem Plans Loan, Bonds for Ipiranga Deal

Brazil

Braskem plans to seek a loan for as much as BRL350m next year and may also sell dollar denominated bonds, according to its board of directors said. The petrochemicals pro...

CVM Approves Cemig Debenture Sale

Bonds Corporate & Sovereign Strategy

Brazil's CVM has approved a BRL400m debenture issue from power distributor Cemig Distribuicao. The 2017 debentures are priced at 7.96% over the DI rate. Proceeds from the...

Doral Appoints Directors

Doral Financial Corporation has appointed Kevin Twomey to its board of directors. He joins nine other members of the board, following the recent appointments of James E. ...

Fitch Affirms Usiminas

Brazil

Fitch has affirmed the BBB- (stable) foreign and local currency ratings of Brazil's Usiminas and its $500m Global MTN program. "Usiminas' ratings are supported by the com...

Moody's Raises PR's Doral

Moody's has upgraded the senior debt rating of Puerto Rico's Doral Financial Corporation to B1 (stable) from B2. This reflects the agency's view that Doral's substantial ...

OGX Issues BRL2.29bn in Equity

Brazil

OGX, the oil and gas venture, raised BRL2.29bn Thursday in a private share offering to existing investors. OGX was created by Brazilian entrepreneur Eike Batista this yea...

PSEG to Shop Chile Distributor

Chile

Public Service Enterprise Group (PSEG) plans to sell its stake in Chile's SAESA electricity distribution group. The New Jersey-based energy holding company has hired Cred...

S&P Upgrades Chile Sovereign

Chile

S&P has raised Chile's debt ratings to A+ (stable) from A. "The upgrade primarily reflects Chile's economy's increasing resilience to potential adverse shocks," says S&P ...