NEWS LOANS: Lowering the volume

NEWS LOANS: Lowering the volume


With companies cutting capital expenditure, the need for funding has decreased, resulting in a relatively quiet period for the Latin American loan market. The few borrowers that have hit the markets have encountered plenty of liquidity and investment grade companies can negotiate more favorable term sheets. Even companies with lower ratings, but well regarded by banks, have managed to leverage the appetite in such competitive environment, market sources tell LatinFinance.Brazilian Banco Safra upsized a three-year, $220 million loan, keeping margins of 140 basis points over Libor, even after Moody’s and Standard & Poor’s cut its ratings to Baa3 and BB+. Bank of America-Merrill Lynch and M

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