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Daily Brief

Dec 14, 2007 Issue

AmBev to Buy Back More Shares

Bonds

Brazilian brewer AmBev has approved a share buyback program worth BRL500m. The share buyback will not exceed a threshold of 10% of either common or preferred shares held ...

Banco do Brasil Raises $1.4bn in Follow-on

Brazil

Brazil's state-owned Banco do Brasil priced a follow-on of 87m shares Thursday at BRL29.25, a 1.2% discount to its closing price. The offering raised $1.4bn for the bank ...

Braskem, Pequiven Ready $3.5bn Petrochemical Venture

Brazil

Brazilian petrochemical giant Braskem and its Venezuelan equivalent Pequiven said today they will create two companies to be based in Venezuela that will demand $3.5bn in...

Braskem, Unipar Sell Stake in Petroflex

Brazil

Brazil's Braskem and Unipar have sold their 70% stake in synthetic rubber maker Petroflex to Germany's Lanxess for BRL527m or BRL22.86 a share, Braskem said. Lanxess plan...

Brazil Upgrade Hinges on CPMF Response: Moody's

Brazil

Moody's believes the Brazilian government's decisions in the coming days on how to address a new BRL40bn gap in its 2008 budget caused by the cancellation of the CPMF tax...

Brazil's PT Loses CPMF Vote

Brazil

The PT, Brazil's governing party, suffered a political setback Wednesday evening when the senate voted to end the CPMF tax, which is applied to financial transactions. Th...

Cencosud Pricing Emerges

Loans

Chilean retailer Cencosud launched this week a $490m 5-year amortizer which it hopes to close in January, a month expected to be very busy in the loan market. The deal st...

Chile Hikes Benchmark to 6%

Chile

Chile's central bank raised the benchmark interest rate by 25bp to 6% Thursday, surprising most analysts who thought the rate would be kept on hold. Credit Suisse was amo...

Colombia Seen Holding at 9.50%

Colombia

Colombia's central bank is expected to keep its benchmark interest rate unchanged at 9.50% today. Notes from the central bank's previous meeting seemed to suggest the cur...

Colombia's Titularizadora Prices $156m in RMBS

Structured Finance

Securitization Shop Titularizadora Colombiana sold COP312.80bn ($156m) in UVR-denominated RMBS. The first A tranche included COP265.46bn in 2017 notes priced at the infla...

Sigma, DF Land Local Bonds

Economy & Policy

Mexican food producer Sigma Alimentos priced Thursday a MXP1.6bn 2014 bond. A MXP1bn floating-rate tranche was priced at TIIE plus 20bp, and a MXP635m fixed tranche came ...