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Daily Brief

Dec 05, 2011 Issue

Agrosuper on Track for Inaugural Bond

Chile Bonds

Chilean food products company Agrosuper is expected to issue a debut local bond in the next few weeks through Banchile Citi and LarrainVial. The roadshow is slated to beg...

AMX RMB Bond Sees A2 Rating

Mexico China Bonds

Moody’s has assigned an A2 rating to America Movil’s (AMX) proposed RMB1.9bn ($300m) of senior notes. Proceeds are expected to be used for yuan capital expenditure fundin...

Banco de Bogota Preps Possible Take-Out

Colombia Bonds

Banco de Bogota, Colombia’s second largest lender, will kick off global investor meetings in the US, Europe and Latin America this week. The debut borrower will see accou...

Banco de Chile Talks Price

Chile Mexico Bonds

Banco de Chile is looking to pay TIIE+50bp on an up to MXP1.5bn ($111m) 3-year bond, marking a debut for the issuer in the Mexican domestic market. Banco de Chile will be...

Can Lower Rates Rouse Brazil’s Credit Market?

Brazil Bonds Economy & Policy

Brazil’s local debenture market should see an increase in volumes and a well-needed dose of issuer diversification if the country’s interest rates reach single digits and...

EM Debt Funds Struggle

Funds Bonds

A total of $725m flowed out of EM bond funds in the week ended November 30, according to EPFR. However the class saw a 1.73% gain for the week ending December 1 for a 1.8...

Gerdau Gets Triple B

Brazil Economy & Policy

Moody’s has assigned a Baa3 rating to Brazilian steel company Gerdau, and withdrawn its corporate family rating of Ba1. The agency cites the company’s improved financial ...

Infonavit Preps MXP RMBS

Mexico Bonds Structured Finance

Mexican mortgage and social services entity Infonavit plans to sell an up to MXP1.1bn ($82m) UDI-denominated RMBS in the domestic market this week. The 28-year security w...

LatAm Equity Sees Inflows

Funds Equity

LatAm equity funds booked inflows of $19m in the week ended November 30, according to EPFR. Meanwhile, EM equity funds lost $1.51bn. In terms of performance, EM equity ac...

Mexico Holds Rates

Mexico Economy & Policy

Mexico's central bank has left the benchmark interest rate unchanged at 4.5%. The bank based its decision on positive signs regarding domestic productivity and inflation,...

PDVSA Turns to Chinese Credit to Guarantee Brazil JV

Brazil Venezuela China

Venezuela’s PDVSA has announced that a $1.5bn credit line will serve as a guarantee for its 30% participation in a joint refinery with Petrobras. This came just a day aft...

Southwater Raises Domestic Funding

Chile Bonds

Inversiones Southwater, an Ontario Teachers' Pension Plan-controlled holdco for 4 Chilean water assets, has sold UF5.6m ($241.5m) in 25-year bonds, priced with a 4.5% cou...

VW Bank Prices MXP Debut

Mexico Bonds

Mexico’s Volkswagen Bank has raised MXP 1bn ($71m) in a domestic bond debut, pricing a 3-year floater at TIIE + 50bp. Private banking accounts and mutual funds mostly par...