Latest

Daily Brief

Dec 16, 2009 Issue

Mixed Response to Argentina Fund Scheme

Argentina

Argentina’s plan to create a fund using excess central bank reserves to repay debt is getting mixed reviews from economists. While on the one hand it is seen as a positiv...

Tivit Sources BNDES Line

Equity

Brazilian IT company Tivit, which in September raised BRL570 through an IPO, has secured a new BRL150m credit line with the BNDES, according to an executive close to the ...

Downgrades to Slow: Moody’s

Ratings have stabilized in the second half of 2009 for Latin American corporate issuers and there are fewer downgrades ahead, says Moody’s in a report. “Stronger fundamen...

BNDESPar Prints Benchmark Debenture

Brazil

BNDESPar has completed the bookbuilding process for its domestic bond sale, setting the terms on a BRL1.25bn transaction that is set to close, following final regulatory ...

Brookfield Begins Road Show

Brazil

Brazilian real estate company Brookfield Incorporacoes has launched a road show supporting its BRL300m debenture issue, it says. Presentations will last through Friday, a...

JBS Snares Aussie Lamb Chopper

M&A

Swift Australia, a wholly-owned unit of Brazilian meatpacker JBS, has acquired Tatiara Meat Company for $27.5m (AUD30.0m). The acquisition of the Borderdtown South Austra...

Suzano Sheds Forestry Assets

Brazil

Brazilian paper and pulp producer Suzano says it has sold 50,000 hectares of forestry assets to two local vehicles. The deal is worth BRL311m, says the country’s second l...

Stanford Sale Awaits Closing

Panama

Panama-based reinsurance company QBE del Itsmo and local tourism tycoon George Novey won the auction to acquire the country’s Stanford Bank operations, according to a ban...

Lab Company Prints IPO at Midpoint

Equity

Fleury, the Brazilian diagnostics lab, has priced its IPO at BRL16.00, the midpoint of its BRL15.00-BRL17.00 range, raising BRL630m, assuming a 15% greenshoe is exercised...

Investors Heard Pressuring IMC on Valuation

Equity

IMC, the restaurant holding company owned by PE firm Advent International, is heard haggling with investors on valuation for its IPO, scheduled to price tomorrow, Decembe...

BdB in Talks to Buy Argentina’s Patagonia

M&A

Banco do Brasil (BdB) is in talks with Argentina’s Banco Patagonia for the potential acquisition of a stake in the bank, both institutions say in regulatory statements fi...

Wind Auction Pleases Despite Lower Volume

Brazil

Brazil-based energy sector executives say Monday’s wind auction was a major success for the emerging renewable subsector, despite a lower than expected result for the tot...

Colombia Group Taps Water Bonds

Colombia

Colombia’s Grupo Financiero de Infraestructura (GFI) has issued COP125bn-equivalent ($62.4m) in UVR-denominated domestic bonds supporting water projects in various small ...

Brazil Retap Spread Scrapes Bottom

Brazil

Brazil pounced on low treasury yields to grab $500m from the bond market before year end, reopening its 2019 at a 4.750% yield, the lowest-ever for the issuer and among t...