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Daily Brief

Dec 19, 2011 Issue

BP Buys Aviation Fuel Assets from Shell, Cosan

Brazil Europe M&A

Air BP, a unit of the British oil company, has purchased aviation fuel facilities in 7 Brazilian airports from Shell and Cosan Industria e Comercio in a deal valued at BR...

Bradesco Eyes HSBC Losango Purchase

Brazil M&A Bonds

Bradesco is looking to acquire HSBC’s Brazilian consumer finance arm, known as Losango, as the British bank seeks to divest in LatAm. Bradesco has expressed its interest ...

Cemig Picks Short-Term Debt Ahead of EDP Bid Results

Brazil Bonds

Cemig has apparently elected to take out BRL6.5bn ($3.5bn) in short-term local debt should it win its bid for a stake in Energias de Portugal (EDP), holding off for now o...

Chile’s Forum Preps Local Issue

Chile Bonds

Chilean auto lender Forum is readying an approximately UF1m ($43m) local bond issue this week, says a person familiar with the process. The company can choose from a 2.5-...

Colombia Holds Rates

Colombia Economy & Policy

As expected, Colombia’s central bank has elected to maintain the country’s benchmark interest rate at 4.75%. In its communique, the bank cites continuing international vo...

EM Debt Takes Hit for the Week

Funds Bonds

A total of $217m flowed out of EM bond funds during the week ended December 14, according to EPFR. The class saw a 1.10% loss for the week ending December 15 for a 2.25% ...

EM Equity Suffers Outflows

Funds Equity

EM equity funds hemorrhaged $2.2bn during the week ended December 14, according to EPFR, including $280m from LatAm funds. In terms of performance, EM equity, fell 3.92% ...

Essal Pulls Plug on Equity Sale

Chile Equity

Corporacion de Fomento de la Produccion (Corfo) pulled the plug on an $80m-$90m offering of shares in water utility Essal after the sale process failed to clear a minimum...

Inbursa Talks MXP Price

Mexico Bonds

Mexico’s Banco Inbursa is heard targeting a TIIE+15bp-25bp price for an up to MXP3bn ($216m) issuance of 2-year floating rate bonds. December 21 is the tentative issuance...

Kroton Adds University for BRL1bn Plus

Brazil M&A

Brazil’s Kroton Educacional has agreed to acquire Uniao Norte do Parana de Ensino (Unopar) for BRL1.3bn ($701.8m), using a combination of debt and newly issued shares. In...

Medellin Names New EPM CEO

People Corporate & Sovereign Strategy Colombia

The mayor of Medellin has named Esteban Calle as CEO of Empresas Publicas de Medellin (EPM), replacing Federico Restrepo. Calle, currently a portfolio manager with BMO in...

Schahin Closes Platform Loan

Brazil Loans

Brazil’s Grupo Schahin has closed a $692m syndicated loan being used to buy twin deepwater drilling platforms known as Black Diamond. The loan comprises a $350m 12-year, ...