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The Institute for International Finance forecasts that GDP growth in LatAm will slow to 1.0% next year, down from an estimated 4.5% growth in 2008. Exports are expected t...
Central America
Remittances to DomRep are expected to rise 5.0% in 2008 to almost $3.2bn. Remittances to Guatemala, meanwhile, are expected to increase slightly to $4.28bn in 2008 from $...
Moody’s has cut the outlook on Guatemala’s ratings to stable from positive. The affected ratings are the Ba2 foreign currency rating, Ba1 country ceiling for foreign curr...
Argentina
Fitch has downgraded Argentina’s long term local currency rating to B minus from B, reflecting the country’s increased risk in meeting fiscal and external financing needs...
Funds
Regional infrastructure private equity specialist Conduit Capital Partners has completed the sale of the Libramiento natural gas compression facility and an associated 65...
Brazil
Usiminas has agreed to acquire steel pipe manufacturer Zamprogna for BRL160m. The deal is expected to close in February. As of September 30, Zamprogna’s working capital a...
Mexico
Citi is cutting Mexico equity to underweight from neutral and adding to an overweight in Chile, while also projecting dollar-adjusted returns of 41% in LatAm stocks next ...
Brazilian mobile phone company Vivo Participacoes is planning an issue of BRL210m in non-convertible 1-year debentures. The deal will price at 113.55% of DI and mature Ja...
Bonds Structured Finance
The IDB has approved a $500m loan for Costa Rica. The funds will help the country’s central bank extend lending in dollars to local financial institutions so that they ca...
Panama
Panama’s Banco General has sold a $10m piece out of $250m in dollar-denominated 6.5% coupon perpetual bonds in the local market, says a source at the bank. The perps are ...
Bonds
Antonio Castano, executive director in the LatAm DCM group, has left UBS, according to a source at the company. Castano, a former deputy general director of public credit...
Ecopetrol says it will invest $6.2bn in 2009, a 35% increase from its capex in 2008, when it spent $4.6bn. Out of the total, $214m corresponds to projects already underwa...
Cabei priced this week a TWD1.3bn ($40m) 2-year fixed rate bond in the local Taiwan market at par to yield 2.60% from a TWD7bn program. The transaction followed investor ...
Chile
Chile’s state-owned electricity company Endesa has issued $332m equivalent (UF10m) in 21-year inflation linked 4.75% coupon bonds at 99.33 to yield 4.81%. The issuer was ...
Chilean retail conglomerate Cencosud has put a bond issuance on hold, a company spokeswoman tells LatinFinance. “The company filed to issue the bonds, but there are no pl...
Mexico has cracked open the international bond markets for EM issuers with a tightly priced $2bn 10-year benchmark that takes out much of 2009 funding needs. The surprise...