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Daily Brief

Dec 18, 2013 Issue

BdB to Unload Genco Stake

Brazil M&A

Banco do Brasil has authorized the sale of a 19% stake in Itapebi Geracao de Energia to Neoenergia, it says. The bank expects a BRL175m ($75m) gain from the sale of the p...

Braskem Makes Plastic Acquisition

Brazil M&A

Braskem has agreed to buy control of Solvay Indupa, the Argentine-Brazilian unit of Belgium’s Solvay, spending up to $290m, it says. The Brazilian has agreed to buy 70.59...

Cabei Preps for Possible Upgrade

Honduras Corporate & Sovereign Strategy

Moody’s has placed the Central American Bank for Economic Integration’s (Cabei) A2 rating on review for a possible upgrade, it says. The key driver is the adoption of a n...

Daimler Mexico Eyes January Sale

Mexico Bonds

Daimler Mexico is planning to issue up to MXP2.5bn ($192m) in 5-year floating-rate domestic bonds in January, according to people familiar with the issuer’s plans. It ori...

EFE Targets Domestic Bond

Chile Bonds

EFE is heard considering Friday to issue up to UF2.9m ($131m) in Chile’s domestic bond market. The state railway is able to choose among 25-year bullet bonds with a 3.6% ...

Gerdau Refinances Revolver

Brazil Loans

Brazil’s Gerdau has completed syndication of a new $1.5bn revolver with 12 banks, according to people familiar with the matter. The 3-year facility replaces an existing r...

Itau Readies RE Fund for New SP Office

Brazil Equity

Itau is preparing to raise BRL727m ($312m) in Brazil’s fundo de investimento imobiliario (FII) market, according to the CVM. The Faria Lima 3.500 FII is a real estate fun...

LatAm Corporates Facing Pressure: Fitch

Bonds Corporate & Sovereign Strategy

Latin American corporates will be challenged in 2014, says Fitch, which counts 24 LatAm issuers with negative outlooks, versus only seven with positive outlooks. Brazilia...

OHL Mexico Concession Lands Coupon Inside 6%

Mexico Bonds

OHL Mexico’s Concesionaria Mexiquense (Conmex) road concession unit got a 5.95% coupon on its MXP8.24bn-equivaqlent ($636m) 2035 UDI-denominated bond, according to a repo...

SanMex Sets Target for Novel T2

Mexico Bonds Structured Finance

Santander Mexico is out with mid-6% initial price talk on what would be LatAm’s first Basel III-compliant Tier 2 bond, according to people familiar with the matter. Books...