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Daily Brief

Dec 11, 2012 Issue

Cement Maker Ponders HY Bond

Mexico Bonds Loans

Mexico’s Grupo Cementos Chihuahua is considering an international bond, according to sources familiar with the plans. The idea is for a 7-year transaction pari-passu with...

Eletrobras Cut to HY

Brazil Corporate & Sovereign Strategy

Fitch has lowered the credit rating of Brazil’s Centrais Eletricas Brasileiras (Eletrobras) to BB from BBB, it says, reflecting the state-owned utility’s decision to acce...

Gases de Occidente Advances Bond

Colombia Bonds

Gases de Occidente has been authorized to sell COP200bn ($110m) in Colombia’s domestic bond market, it says. The issuer can choose from five possible tranches, with terms...

Gavea Preps RE Fund of Funds

Brazil Structured Finance Equity

Brazil’s Gavea Investimentos is preparing a BRL200m ($96m) fund of funds investing in other real estate funds and securities, according to a regulatory filing. The Gavea ...

Hospital Looks to Continue Mexican ABS Expansion

Mexico Bonds Structured Finance

Mexico’s domestic ABS market appears set to see a continued expansion in bonds backed by public service contract receivables, with a health services provider eyeing a tra...

Interacciones Sets Price Target

Mexico Bonds

Mexico’s Grupo Financiero Interacciones is heard seeking to pay TIIE+135bp-area on a new MXP1.5bn ($117m) 3-year bond in the domestic market. The sale is expected Friday,...

Ipiranga Clinches Debentures

Brazil Bonds

Ipiranga Produtos de Petroleo has completed the sale of BRL600m ($288m) in Brazil’s local bond market, according to Anbima. The 2017 debenture pays 107.9% of the DI, in l...

JPMorgan Names LatAm Banking Heads

People Corporate & Sovereign Strategy Bonds

JPMorgan has named Alejandro Guevara and Lisandro Miguens as co-heads of banking for Latin America, it says. The role had previously fallen under the responsibilities of ...

Mexico Lays out Borrowing Agenda

Mexico Bonds

Mexico’s finance ministry is proposing to borrow as much as $7bn in the international debt markets and raise MXP415bn ($32.3bn) from the domestic market next year, accord...

NADB Retaps Bonds

Mexico Bonds

The North American Development Bank (NADB), a lender 50% owned by Mexico’s government, has emerged to retap its 2022 bonds for $180m. Starting on the back of some $100m i...

Peruvian Builder Targets Loan

Peru Loans

Grana y Montero has launched a 5-year $150m term loan facility at Libor+425bp, according to sources familiar with the transaction. BBVA is leading the deal, which is rais...

S&P Positive on Cemex

Mexico Corporate & Sovereign Strategy

Cemex continues to reap benefits from its proactive liability management in 2012, with S&P putting the B minus Mexican cement maker on positive ratings watch. The move “r...

Vene Bonds Tighten on Chavez News

Venezuela Economy & Policy Bonds

Venezuela’s bonds tightened Monday as Hugo Chavez hinted at the possibility he may be incapacitated due to deteriorating health and named Vice President Nicolas Maduro as...