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Daily Brief

Dec 21, 2010 Issue

Moody’s Ups Outlook for Mexican Banks

Mexico

Moody’s has changed the outlook for the Mexican banking system to stable from negative. The change is a result of the banks' strengthened capital and reserves, and solid ...

Correction: IFC Financing Jamaica Power Company

Caribbean

A December 20 brief entitled “IFC Financing Jamaica Power Company” incorrectly states that the IFC and JPSC did not return calls for comment on terms of JPSC’s $99m loan....

Brazil Real Estate Readies Equity Follow-Ons

Brazil

Brazilian homebuilder Direcional Engenharia and broker Brasil Brokers are each preparing a follow-on offering. Others in the sector – builder Tecnisa has also recently an...

Conconcreto Sees Ample Demand for IPO

Equity

Colombian infrastructure builder Conconcreto saw demand of COP1.199trn ($623m) for shares in its IPO, it says, following the close of the subscription period Friday. That...

Mexican Driller to Buy Back Bonds

Bonds

Mexico’s Exploraciones y Perforadora Central is set to buy back $56m in export ship financing bonds following the close of a tender offer. The drilling service provider t...

Macquarie Fund Signs IDB Loan

Bonds Structured Finance

The Macquarie Mexican Infrastructure Fund has completed a MXP1.54bn road concession purchase. It has also signed a $150m loan from the IDB. The fund bought the Decarred r...

Peru Hydropower Project Gets Loan

Peru

The Cheves hydropower plant in Peru, a 168MW greenfield project, will get up to $250m financing through the IFC, in the form of an A/B loan. Up to $70m will come from the...

Moody’s Downgrades Airport Notes

Mexico

Mexico City Airport Trust’s $64m dollar notes and $24m equivalent UDI notes have been downgraded by Moody’s to Ba3 with a negative outlook, from Ba2. The outlook reflects...

Buckeye Takes BORCO Stake

Caribbean

Texas-based Buckeye Partners has acquired the Bahamas Oil Refining Company (BORCO) oil storage terminal for $1.36bn. The petroleum pipeline owner and operator bought an 8...

HK-Based Noble Nabs Brazil Sugar Mills

Brazil

Hong Kong-based Noble Group says it has acquired 2 Brazilian sugar mills for a combined $950m. Noble, a supply chain manager for the agricultural and energy product secto...

Hypermarcas Seen Growing With Mantecorp

Brazil

Analysts reacted positively to Hypermarcas’ announcement Monday that it would acquire Mantecorp in a BRL2.5bn deal, though the stock slumped on technical pressure. The de...

BNDES Lends to Suzano

Brazil Equity

Brazilian pulpmaker Suzano Papel e Celulose is getting BRL3.93bn in funding from the BNDES development bank to help build a new plant. BNDES has agreed to a BRL2.73bn loa...