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Daily Brief

Dec 14, 2011 Issue

Afores Seek Returns in EM

Mexico Funds

Mexican pension funds should be given greater freedom to diversify into growing EM economies rather than be limited to investments in sluggish developed nations, say part...

Agrenco CEO, CFO Exit

People Corporate & Sovereign Strategy Brazil

CEO Fernando Lauria and CFO Leonardo Coelho have resigned from Brazilian biofuels producer Agrenco, the company says. It does not give any further details, and company of...

Brazil Oil IPO Withdrawn

Brazil Equity

PetroReconcavo, a Brazilian E&P company with onshore wells in the state of Bahia, has put off plans for an IPO, according to the CVM. The issuers’ registration, filed in ...

Chile Holds Rates

Bonds Corporate & Sovereign Strategy Chile

As expected, Chile’s central bank decided to hold the county’s benchmark interest rate at 5.25%. The banks cited continuing deterioration in the global economic outlook, ...

El Paso Aims for 1Q Brazil Asset Sale

Brazil M&A US

US gas company El Paso is expected to divest its Brazilian assets, along with the rest of its exploration and production business, by the end of the first quarter of 2012...

La Araucana Close to Bond

Chile Bonds

Chile's Caja de Compensacion La Araucana is currently on the road and expects to raise some CLP40bn ($77.6m) in the local markets next week. The financial institution pla...

Marcopolo Buys Control of Aussie Busmaker

Brazil M&A Australia

Brazilian bus body maker Marcopolo has acquired a 75% stake in its Australian counterpart Volgren Australia for AUD52.5m ($52.9m), with additional future earn-out adjustm...

Oaxaca Nears MXP Bond

Mexico Bonds

The Mexican state of Oaxaca is close to raising MXP1.947bn ($140m) through the sale of a 15-year domestic bond. Pricing is scheduled for Thursday, if market conditions pe...

Pequiven Gets Nearly All in Tender

Venezuela Bonds

Petroquimica de Venezuela (Pequiven) is set to repurchase $247.6m in outstanding 8.29% 2020 bonds following the close of a tender offer, it says, or 99% of the $250m orig...

Port Operator Closes BRL Bond

Brazil Bonds

Rocha Terminais Portuarias e Logistica has closed a BRL172m ($96m) bond in Brazil’s domestic market, according to Anbima. The port operator’s 2019 debenture pays the DI+2...

Webjet CEO Resigns

People Corporate & Sovereign Strategy Brazil

Fabio Godinho has stepped down as CEO of Webjet, according to Gol, which bought the low-fare airline earlier this year. Godinho, who will “take on new challenges,” is rep...