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Daily Brief

Dec 15, 2010 Issue

AA 2000 Tries to Land Under 11

Argentina Bonds

Aeropuertos Argentina 2000 (AA 2000) is out with 11% area yield guidance on a new 10-year NC5 bond expected to price as soon as today. The B2/B operator of 33 Argentine a...

Caixa to Buy Inpar Debentures

Brazil Bonds

Brazil-based homebuilder Inpar will sell BRL300m ($177m) in 5-year debentures to state-controlled bank Caixa Economica via a private placement, says a banker on the deal....

CGE Generates UF Bond Demand

Chile Bonds

Chilean power company Compania General de Electricidad (CGE) has issued UF2m ($89m) in 21-year bonds via a Dutch auction, getting 2.5x in demand, says a banker on the dea...

EPM Raises COP500bn Locally

Colombia Bonds

Colombian utility Empresas Publicas de Medellin (EPM) has issued COP500bn ($264m) in local bonds in 3 tranches, all priced at par. A 6-year tranche has a coupon of 3.25% ...

IDB Lands Debut Paraguay A/B Loan

Bonds Structured Finance Loans

Banco Continental has signed a $40m syndicated A/B loan via the IDB, which will go towards increasing lending to small and mid-sized businesses. The A loan, from the IDB,...

Itau Chile Grows Syndication

Brazil Chile Loans

Banco Itau Chile has signed a $200m 2-year syndicated loan, which it upsized from the $150m originally planned, following oversubscription. Closing and funding is expecte...

KCSM Raises Tender Funds

Mexico Bonds

Kansas City Southern de Mexico has sold $185m in new 2020 bonds, to fund a buyback of more expensive 2013 and 2016 bonds. The Mexican unit of the US railroad operator pri...

Masher Milks High Yield Accounts

Argentina Bonds

Mastellone Hermanos has sold $20m in 2013 dollar-denominated bonds, it says in a filing. The Argentine dairy priced the issue at 96.797 with a 9.5% coupon, to yield 11.0%...

Mexico Expands IMF FCL Access

Mexico Economy & Policy Corporate & Sovereign Strategy

Mexico is replacing a $47bn 1-year precautionary flexible credit line (FCL) arrangement from the IMF with a $73bn 2-year line, according to the fund. The sovereign is not...

Petrobras Buys 30% of Refinery

Brazil M&A

Brazilian oil champion Petrobras says it is acquiring Repsol's 30% stake in refinery Refinaria Alberto Pasqualini (Refap) for $850m, lifting its stake to 100%. Out of the...

Sovereigns Plan More Global-Local

Brazil Colombia Mexico

LatAm sovereigns are set to place more global bonds denominated in pesos and reais next year, on the back of well-bid 2010 transactions. “We . . . will use the same strat...

SulAmerica Acquiring Dental Insurer

People Corporate & Sovereign Strategy Brazil

Brazilian insurance company SulAmerica is acquiring dental care provider Dental PLAN for BRL28.5m ($16.8m), or almost 2x 2009 revenue. SulAmerica CEO Thomaz Cabral de Men...

Uruguay Growth to Slow, Says IMF

Economy & Policy Uruguay

The IMF is projecting real GDP growth of 8.0%-8.5% this year, slowing to 5.0% in 2011 and 4.0% thereafter. “Sustaining growth at 4.0% a year over the medium term will req...

Vitro Files for Mexican Bankruptcy

Mexico Corporate & Sovereign Strategy

Vitro has filed for the concurso mercantil bankruptcy process in Mexico and plans to begin Chapter 15 proceedings in the US and seek creditor protection for its US units....