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Daily Brief

Dec 08, 2011 Issue

BBVA Chile Talks MXP Price

Chile Mexico Bonds

BBVA Chile is heard targeting a TIIE+60bp spread for a new 3-year floating rate bond, its first in the Mexican local market. The level would be in line with a similar spr...

BNDES Authorized to Fund Eletrobras’s EDP Bid

Bonds Structured Finance Brazil

BNDES would be able to finance Eletrobras’s bid for a stake in Portuguese state-controlled power company EDP under a new rule change. The government of President Dilma Ro...

Brazil Investors Negative on 2012 Equity Prospects

Brazil Equity Funds

Brazilian investors paint a poor picture about the prospects of any immediate improvements in the equity markets in 2012 as broader international problems weigh on second...

Canadian Buys Brazilian Auto Parts Operation

Brazil M&A Canada

Cosma, a unit of Canada’s Magna International, has agreed to purchase the Brazilian auto parts unit of ThyssenKrupp Automotive Systems, further cementing its presence in ...

Contour Global Pulls Colombia IPO

Colombia Equity

Another 2011 LatAm IPO has failed Wednesday when ContourGlobal LatAm’s COP273bn ($143m) sale failed to get a minimum demand. This move comes as surprise as it was thought...

Delta Takes Gol Stake

Brazil M&A US

Delta Airlines has agreed to acquire a minority stake in Brazil’s Gol Linhas Aereas Inteligentes for $100m, in a deal that may cause some Gol shareholder dilution. The US...

IRSA CFO Changes Roles

People Corporate & Sovereign Strategy Argentina

Gabriel Blasi is to step down as CFO of Argentine real-estate company IRSA, according to a source familiar with the matter. He will move to a similar position at Banco Hi...

Light Readies Debenture

Brazil Bonds

Brazilian utility Light wants to sell BRL425m ($236m) in domestic bonds. It does not give details on the tenor or terms of the deal, to be done under the rule 476 restric...

Peru Holds Rates

Peru Economy & Policy

Peru’s central bank has decided to keep the country’s benchmark interest rate at 4.25%, in line with expectations. The decision takes into account factors including lower...

Rabobank Sells UF2m in Chile

Chile Europe Bonds

Rabobank has raised UF2m (87.4m) in a Chilean domestic bond sale. The Dutch bank priced the inflation-linked 5-year bullet at 96.99 with a 3.05% coupon to yield 3.75%, or...

Rio Upgraded by Moody’s

Brazil Corporate & Sovereign Strategy

The City of Rio de Janeiro has been upgraded by Moody’s to Baa2 from Baa3. Indicators of sustainable fiscal performance and spending control are among the factors leading...

Santander Chile Pops after Well-Bid FO

Chile Equity

Santander Chile Shares rose nearly 10% in their first session following a well-bid $949m follow-on, reflecting the transaction’s 2x-plus demand. It sold 14.74bn shares, r...

Urbi Poised for Local Bond Sale

Mexico Bonds

Urbi Desarrollos Urbanos (URBI) is expected to price up to MXP1bn ($74m) today in the Mexican domestic bond market. Price talk for the Mexican homebuilder has widened out...

Vergara Named Chile CB Head

People Corporate & Sovereign Strategy Bonds

Rodrigo Vergara has been named governor of the Chile’s central bank, replacing outgoing head Jose De Gregorio. His term starts Saturday and lasts 5 years. Vergara, alread...