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Daily Brief

Dec 08, 2008 Issue

Paraguay Going Ahead with Corpus

Paraguay will begin the bidding process for the hydroelectric project Corpus Christi in “the next months,” Carlos Buttner, the country’s vice minister of mines and energy...

IDB Supports Bahia

Bonds Structured Finance

The IDB has approved a $409m loan to Brazil’s Bahia state to implement a fiscal modernization program that will include measures to boost tax collection, improve spending...

LatAm Equity Funds Keep Sliding

LatAm equity funds lost $91.0 million in the first week of December, while EM equity funds sustained outflows of $553.4m in the same period, or 0.3% of total assets, brin...

EM Debt Funds Extend Bear Run

EM debt funds dropped 0.21% in the week ended December 4, again making it the worst performer of all world income funds. Moreover, it was the only debt fund to register a...

Homex, Estacio Name New CFOs

Mexico

Homex has named Carlos Moctezuma as CFO, replacing Alan Castellanos who stepped to pursue other opportunities. Moctezuma has been with the Mexican homebuilder for 5 years...

Boettcher Tapped to Lead BoNY LatAm

Bank of New York Mellon has appointed Rene Boettcher as chairman of the LatAm region. He will continue to serve as head of client management for LatAm, reporting to Bill ...

McBains Cooper May Expand to Brazil

Brazil

UK-based infrastructure, construction and property consultancy McBains Cooper intends to open offices in Brazil next year, says partner Santiago Klein, adding that the fi...

Moody’s Chops Homex’s Outlook to Stable

Moody’s has chopped Homex’s rating outlook to stable as banks and mortgage Sofoles and Sofomes curtail mortgage origination targets and tighten underwriting criteria, pre...

CS LatAm Seen Immune From Further Cuts

Brazil

Credit Suisse’s LatAm operations will not be impacted by the latest round of cuts announced globally at the Swiss bank, a spokeswoman says. Brazil reductions were made in...

EM FX Cheap But Don’t Buy It

Emerging markets currencies are undervalued, but now is not yet the time to buy and markets will likely remain volatile, say analysts. “From a valuation perspective, we t...

EM Buyside Knocks Sellside

EM investors see increasing counterparty risk in the markets and are critical of the sell side, particularly their research. “If you guys aren’t taking risk or providing ...

Chilean Macro Strength in Question

Chile

The global crisis is toppling LatAm economies like dominoes, and cracks are starting to widen in Chile, the region’s highest rated large economy. The country is reeling f...

Telmex, EPM Potential Bidders for ETB

Colombia

Telmex, Telefonica and EPM, majority owned by Empresas Publicas de Medellin, are possible bidders for Bogota-based telecom company ETB, say two Colombian analysts from di...

D&C Hires Credit Suisse

Dyer Coriat Holding, which holds 32.65% of Copeinca, and Luis Dyer Ampudia Osterlin and his family, who currently hold about 9% of the shares of Copeinca, say they will e...

Monsanto Completes Brazil Buys

M&A

Monsanto has completed the acquisition of sugarcane biotech company Aly Participacoes for $287m. Aly is the parent company of CanaVialis and Alellyx. The legal advisor fo...

Isagen Floats Ambitious Hydro RFP

Colombia

Colombian power generator Isagen is seeking bank participation for a $1.3bn syndicated loan to help finance an 800MW hydroelectric project at the Sogamoso river complex i...

Citi Loses LatAm I-Bank Co-Head

Mexico

Carlos Vara, co-head of Citi’s LatAm investment banking unit, has left the firm, say people familiar with the matter. Friday was apparently the last day for the Mexico-ba...