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Daily Brief

Dec 22, 2010 Issue

S&P Boosts IRSA Rating

Inversiones y Representacionces SA’s (IRSA) subsidiary Alto Palermo had its Corporate Credit Ratings raised to B with a stable outlook from B minus with a positive watch ...

Costa Rica Gets IDB Funds

Costa Rica will receive $93m to help improve water and sanitation services, adding to existing financing of $223m toward the project. The Spanish government will provide ...

IMF Approves DomRep Disbursement

The IMF has approved a $168.1m disbursement to the Dominican Republic after completing the fourth review of the country's economic performance. This brings total disburse...

Argentina Gets World Bank Loans

Argentina

The World Bank has approved 3 loans worth almost $1.1bn for Argentina. Two of the loans, worth $400m and $200m respectively, will be used to improve the water and sanitat...

Banco de Chile Proposes Cap Increase

Chile

Banco de Chile will propose a $500m capital increase in January, according to an SEC document. The bank proposes raising the funds by means of the issuance of cash shares...

Banco de Bogota Signs Bridge

M&A

Banco de Bogota has taken out a $1bn 1-year bridge loan to finance the acquisition of BAC, the Central American bank. According to a treasury official at Banco de Bogota,...

Vale Completes Fertilizantes Buyback

Vale has obtained 99.83% of the float of its Vale Fertilizantes unit, it says, following the close of a tag-along offer to minority holders. The miner purchased 20,317 sh...

Magnesita Preps Follow-on

Brazil

Brazil’s Magnesita Refratorios is preparing an equity follow-on, it says, targeting BRL225m-BRL425m. The producer of refractory materials plans to start a roadshow Januar...

France's Groupe SEB Takes Imusa Stake

Colombia

France-based household equipment maker Groupe SEB says it is acquiring a majority stake in Colombian peer Imusa from investment firm Industrias Arfel, also based in Colom...

Interbank Owners Acquire Inmisa

Peru

Grupo Rodriguez Pastor has acquired a 60% stake in Inmobiliaria Milenia (Inmisa). According to a banker on the deal, the Peruvian conglomerate, which owns financial group...

China Grid Buys Brazil Power Cos

Brazil

State Grid Corporation of China has acquired 7 Brazilian power companies and a 30-year transmission operating concession. According to an announcement posted on China’s S...

Infrastructure CCD Set to Close

Funds

Mexico’s I Cuadrada (I2), a unit of US-based PE manager Black Creek, is set to raise MXP3.2bn through an infrastructure-focused certificado de capital de desarrollo (CCD)...