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Daily Brief

Dec 04, 2009 Issue

Moody’s Lifts Panamericano Outlook

Brazil

Moody’s has changed the outlook on Brazil-based Banco Panamericano’s Ba2 ratings to positive from stable after Caixa Participacoes, a unit of state-owned Caixa Economica ...

Brazil Municipalities Get IDB Support

Bonds Structured Finance

The IDB has approved a $150m loan to finance the second phase of a multi-phase federal government program that seeks to help the country’s 5,564 municipalities better int...

Security Sells Local Bonds

Bonds

Chilean financial conglomerate Grupo Security has issued UF750,000 ($31.7m) in 23-year bonds at 97.94 with a 4.50% coupon to yield 4.70%, says Hugo Horta, head of DCM at ...

Aval Issues 5-Tranche Bonds

Economy & Policy

Colombian financial holding Grupo Aval has sold COP750bn ($373m) in 5 tranches. A 3-year tranche pays 114bp over DTF, a 5-year pays 369bp over IPC, a 7-year pays 449bp ov...

Costa Rica Airport Gets IDB Loan

Bonds Structured Finance

The IDB has approved a $45m loan to help finance the expansion of the Juan Santamaria airport in Costa Rica’s capital city of San Jose. Paulo Monteiro, finance manager at...

Petrotemex Reopens 2014 Bonds

Petrotemex has reopened its $200m senior unsecured 2014 notes, selling and additional $75m at 102.500 with a 9.500% coupon to yield 8.832%. The reopening was done in resp...

Transelec Places Local Notes

Chile

Chilean power-transmission company Transelec placed UF1.5m ($63.5m) in local bonds through a Dutch auction at 98.93 to yield 3.75% on Thursday. According to the filing, d...

Chilean Retailer Raises $43m Via IPO

Equity

Empresas Hites has raised CLP21.5bn ($43m) in Chile’s second IPO of the year. The retailer sold 104m shares, representing a 30% stake, at a price of CLP206. The departmen...

Cemex Expectations Hover Around 10%

Cemex has started a roadshow for a benchmark issue of 2016 NC4 bonds, and investors and analysts are speculating the yield could be 9.5%-10.5%. “Rumors of price are swirl...

Pemex Trading Unit Syndicates Loan

Mexico

PMI, a private trading company tied to Mexico’s Pemex, is looking to raise $500m in 3-year senior secured funds in the bank market. The deal is being syndicated to a seco...

LLX Port Project Gets Green Light

Brazil

Brazilian logistics operator LLX says it has obtained an environmental license from the state of Rio to develop a logistics yard adjacent to the BRL1.8bn Acu megaport it ...

Biotech Buys Sugar Mill Stake

Brazil

Amyris, the California-headquartered biotechnology firm, has acquired a 40% stake in a Brazilian sugar mill belonging to Sao Martinho, a large sugar and ethanol specialis...

CCR Clinches Jumbo Road Financing

Brazil

Brazilian toll road operator CCR has raised $940m equivalent in loans with multilateral and commercial banks. “The biggest challenge for us was to financing for such a la...