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Daily Brief

Dec 17, 2007 Issue

Brazil's Mangels Raises $30m FMO Loan

Brazil

Dutch development bank FMO has closed a $30m loan to Brazilian steel products maker Mangels. The facility has a tenor of nine years with a 3-year grace period and pays 25...

Chile Surprises with Rate Hike

Bonds Corporate & Sovereign Strategy

Chile raised rates unexpectedly last week by 25bp to 6%, against the consensus forecast of no change in the rate. "The policy statement was balanced; without pre-committi...

EM Equity Funds See Robust Inflows

Funds

Despite the rout, geographically diversified global emerging markets (GEM) funds tracked by EPFR Global had their best week ever last week, both in dollar and percentage ...

Few Changes Expected for Kirchner II

Economy & Policy

Cristina de Kirchner has unveiled a cabinet with few new faces, suggesting continuity with her husband's administration. Among the secretaries who will be staying on for ...

Gazprom Reported Plotting Bolivia Venture

Andean

Russia's Gazprom is in talks with the Bolivian government to link up with YPFB, the national oil and gas company, in an exploration deal heard at $2bn, according to the F...

LatAm Equities Sink With the Rest

LatAm equity funds lost 3.81% in the week ended December 13, according to Lipper. The performance was much worse than the 2.29% average loss for the 2,622 World Equity fu...

Odebrecht Preps DR Toll Road Issue

Brazil

Brazil's Grupo Odebrecht is assembling a $360m project finance bond to build and operate the Autopista El Coral in the Dominican Republic. The deal, to be launched in the...

Petrobras, PDVSA Said Building Brazil Refinery

Brazil

PDVSA and Petrobras will jointly invest $4.5bn to build a refinery in the northeastern Brazilian state of Pernambuco, according to a Reuters report that cites presidents ...

Sofisa Readies $150m A/B Loan

Brazil

Brazil's Banco Sofisa is on the road with a $120m-$150m IFC A/B loan, which is expected to close January 9. In addition to a $30m 7-year A loan, the bank is syndicating o...

Suez-Tractebel Buys Brazil Hydro PPP for $332m

Brazil

Belgian energy firm Suez-Tractebel has purchased a 100% stake in Brazil's Ponte de Pedra hydroelectric power plant from Sweden's Skanska and Italy's Impreglio, each of wh...

Votorantim Pushes Price on Jumbo Loan

M&A

Brazil's Grupo Votorantim launched Friday a $1.3bn 3-piece syndicated loan to take out two bridge facilities it raised with WestLB and Citi for acquisitions done in recen...