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Daily Brief

Dec 09, 2011 Issue

Banco de Bogota Bond Gets BBB Minus Rating

Colombia Bonds Corporate & Sovereign Strategy

Fitch and S&P have each assigned a BBB minus rating with stable outlook to Banco de Bogota’s proposed USD senior unsecured notes. Colombia’s second largest lender is look...

Brazil Foods Asset Swap Seen as Positive for Marfrig

Brazil M&A

Brazilian food companies Brazil Foods (BRF) and Marfrig have agreed to an asset swap that would satisfy BRF’s regulator-mandated asset divestments and add Argentine asset...

Brazil’s Vanguarda Unloads Biodiesel

Brazil M&A

Vanguarda Agro agreed to sell two Biodiesel plants to biodiesel producer Oleoplan for BRL100m ($54.8m), in a deal that allows the company to reduce its debt load. The Bra...

Brazilian Travel Co Plans IPO

Brazil Equity

Brazilian travel operator Brasil Travel Turismo e Participacoes has filed with local regulators to carry out an IPO. Brasil Travel is a holdco for 35 companies involved i...

Cemex Comfortable with Covenants

Mexico Corporate & Sovereign Strategy Bonds

With a sooner-than-expected windfall from the Venezuelan government and a steady reduction of bank debt, Cemex feels comfortable meeting loan covenants going into the fir...

HRT Settles Call Option Deal

Brazil M&A

Brazil’s HRT Participacoes em Petroleo has agreed to pay BRL1.3bn ($711m) to Petra Energia as part of a call option to acquire a 45% stake in concession rights over 21 oi...

Infonavit Prices MXP RMBS

Mexico Bonds

Mexico’s Infonavit has issued MXP1.1bn ($82m) of RMBSs backed by Infonavit mortgages in the domestic market. The state mortgage lender locked in its lowest coupon this ye...

MPX Eligible for BNDES Financing

Brazil Loans Project & Infrastructure Finance

MPX Energia has taken steps toward securing BRL1.6bn ($880m) in BNDES financing for its Parnaíba Thermoelectric Complex. The project is expected to be funded with about 7...

PDVSA and Rosneft Ink Heavy Oil JV

Venezuela M&A Russia

PDVSA has signed a memorandum of understanding with Russia’s Rosneft on a deal to develop the Carabobo 2 oil project, one of three heavy oil projects planned by President...

Petrotemex Closes Loan Amendment

Mexico Loans

Mexican petrochemical company Petrotemex has closed an amendment to its $600m loan after watching several European and Chilean banks decline to participate, and BBVA join...

Urbi Builds Local Issue

Mexico Bonds

Urbi Desarrollos Urbanos has sold MXP600m ($44m) in Mexico’s domestic bond market. The homebuilder’s floating-rate bonds were priced at TIIE+400bp, wide to the TIIE+370bp...