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Daily Brief

Dec 04, 2013 Issue

BCI Adds to Swiss Funds

Chile Europe Bonds

Chile’s BCI has raised CHF120m ($132m) in the Swiss bond market, adding to the record issuance from LatAm borrowers in that country this year. The bank follows its CHF200...

Brazil GDP Trend Still Strong: Mantega

Brazil Economy & Policy Corporate & Sovereign Strategy

Brazil’s economy is set to return to growth in 4Q and continue that way in 2014, finance minister Guido Mantega says in a conference call, despite the 50bp fall in output...

CCD Targets Mexican Residential Developers

Mexico Equity

Gaia Capital is preparing a credit-focused fund of up to MXP1.2bn ($92m) for Mexico’s certificado de desarrollo de capital (CCD) market, according to a prospectus. The 10...

Clinica Las Condes Nears Bond Sale

Chile Bonds

Chile’s Clinica Las Condes will head to the market Thursday to sell UF1m ($44m) in domestic bonds, according to regulatory notices. The health services provider is able t...

Davivienda Readies Domestic Offer

Colombia Bonds

Banco Davivienda is expected to sell up to COP500bn ($257m) in bonds in Colombia’s local market on December 10, according to people following the process. Specific terms ...

EPM Heads to Bond Market

Colombia Bonds

Empresas Publicas de Medellin expects to sell up to COP500bn ($257m) in domestic bonds today, according to people following the sale. It can choose among tenors of five, ...

Fibria Prepared for Higher Interest Rates: CFO

Brazil Bonds

Brazil’s Fibria is joining the list of LatAm issuers who will stay out of the bond market in 2014 if they can help it. Even in an environment of higher interest rates, ca...

IDB Lends to Nicaragua

Nicaragua Loans

The Inter-American Development Bank (IDB) will loan $186m to Nicaragua’s government to strengthen its disaster response capabilities, it says. The IDB funds include a $93...

Itau Chile Set for Local Debt

Chile Bonds

Banco Itau Chile is scheduled to sell UF1m ($44m) in domestic bonds today, according to regulatory documents. The 20-year bullet bonds have a 3.8% coupon. Itau is managin...

Moody’s Drops SMU to C-Level

Chile Corporate & Sovereign Strategy

Moody’s has downgraded SMU to Caa1 from B3, it says, concluding a review period for the troubled Chilean retailer. The move is driven based on “continued weaker than expe...

Pemex Preps Peso Retaps

Mexico Bonds

Pemex is targeting up to MXP9.6bn ($732m) through a reopening of its 2024 global depository notes (GDN) and 2019 floating-rate domestic bonds today, according to a sellin...

UK Media Group Expands in Brazilian English

Brazil Europe M&A

British media group Pearson has agreed to buy Brazilian educator Grupo Multi, it says, for GBP505m ($826m). The transaction includes GBP65m in assumed debt, and gives the...