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Daily Brief

Dec 09, 2013 Issue

Banco do Brasil Launches Loan

Brazil Loans

Banco do Brasil has launched a $1bn loan for MLAs, LatinFinance understands, and a retail bank meeting is anticipated for January. A 3-year tranche pays Libor+135bp and a...

BancoEstado Plans Debt Sale

Chile Bonds

BancoEstado is planning to issue up to UF2m ($88m) in Chile’s local bond market on Thursday, say people familiar with the bank’s plans. The 30-year subordinated bonds are...

Bond Funds Finally Have Inflows

Funds

EM dedicated bond funds experienced $1.54bn in net inflows during the week ended December 4, after $1.05bn in net outflows the week before, according to Barclays. This in...

Bond Issuers Watch for Window

Bonds

The growing list of LatAm DCM hopefuls will be watching US Treasury bonds this week, as the benchmark saw an uptick following an upbeat US jobs report Friday. The 10-year...

Brazil CDS Sweet Spot: Hariharan

Brazil Funds

Brazilian CDS is “mispriced” and offers an investment opportunity during a period of uncertainty in global markets, says Hari Hariharan, chairman of NWI Investments. “Wit...

CFE Readies Local Bond

Mexico Bonds

Mexico's Comision Federal de Electricidad (CFE) is planning to sell domestic bond of up to MXP1.66bn ($129m) Tuesday, according to a person familiar with the terms. The 4...

China Helps Fund Argie Trains

Argentina China Loans

Argentina has signed a $2.47bn financing package with China Machinery Engineering (CMEC) to revamp the Belgrano-Cargas freight train line, the country’s Interior Ministry...

Equity Outflows Continue

Funds

EM equity funds experienced $1.82bn in outflows during the week ending December 4, according to Barclays, after $380m in net outflows in the week before. LatAm equity fun...

IFC Lends to Mexico Terminal

Mexico Loans

The IFC has agreed to provide $300m to APM Terminals Lazaro Cardenas in Mexico, to help fund construction of a new terminal at the port. It does not disclose the pricing ...

InterCement to Meet Banks

Brazil Loans

Brazil’s InterCement is planning to hold bank meetings Tuesday in New York and Thursday in Sao Paulo to discuss a $900m loan package, according to people following the pr...

Mexico Holds Rates

Mexico Economy & Policy

Mexico’s central bank held rates at 3.5%, in line with market expectations. Barclays points to the board’s prior indications that it didn’t see cuts in the near term. The...

Moody’s Cuts CorpGroup

Chile Corporate & Sovereign Strategy

Moody’s has downgraded CorpBanca to Baa3 from Baa2 and parent CorpGroup to Ba1 from Ba3, it says. The agency is concerned that the Chileans’ association with fellow Alvar...

Nemak Closes Facility

Mexico Loans

Grupo Alfa auto parts manufacturer Tenedora Nemak has closed a $465m 2018 senior unsecured loan, according to people following the process. The price is tied to a leverag...

Power Project Prices Infrastructure Debenture

Brazil Bonds Project & Infrastructure Finance

Sponsors of the Termeletrica Pernambuco III power project have set the pricing for the sale of BRL300m ($129m) in domestic bonds qualifying for preferential tax treatment...

Sigma Pitching Lenders

Mexico Loans

Mexico’s Sigma Alimentos is planning a bank meeting Tuesday for a $1bn senior unsecured term loan facility, LatinFinance understands. The 5-year loan comes at Libor+125bp...