Daily Brief

Dec 12, 2016 Issue

Raymond James rebrands Argentine unit

People Corporate & Sovereign Strategy Argentina

AR Partners and Delta Asset Management buy the outstanding shares in the investment bank’s local business

Santander invests in Mexican business

Bonds Structured Finance Funds

Spanish lender will inject $737m in its Mexican subsidiary in the next three years

Brazilian debt issues drop

Brazil Bonds

But cross-border bond sales rise 151% through end-November, Anbima says

Cyrela downgraded before debenture sale

Brazil Bonds Corporate & Sovereign Strategy

Fitch cuts the Brazilian homebuilder a notch due to deteriorating cash flow

Energia Pecem raises local debt

Brazil Bonds

Brazilian energy company issues $98.2m in 2021 debentures

Investors doubt infra turnaround in Brazil

Bonds Structured Finance Funds

Commercial banks may not make up reduced BNDES lending for construction projects, including concessions and PPPs

Elementia bonds take hit after Giant Cement purchase

Mexico Bonds M&A

Mexican construction materials manufacturer sees the yield on its 2025s widen to more than 6% after it funds the US acquisition with a capital increase

Peru's Banco de la Nacion makes local bond debut

Peru Bonds

State-owned lender raises $72m from the sale of 15-year notes on the Lima stock exchange

Argentina's Banco Nacion earmarks renewables financing

Argentina Loans Project & Infrastructure Finance

Government's economic development fund Fondear will offer subsidized interest rates for projects from the first round of the RenovAr program

Paraguay monitors markets ahead of benchmark return

Bonds Paraguay

South American sovereign in talks to issue between $500m and $600m, sources say

Engie, Red Electrica sign TEN loan

Chile Loans Project & Infrastructure Finance

French and Spanish developers net $775m in dual-currency financing for power transmission lines