Archive

January / February 2016

The future of investment banking. Also, family wealth grows up, Panama and El Salvador link trading and the 2015 Deals of the Year Awards.

JANUARY/ FEBRUARY 2016 FRONT NOTES: Fickle fortunes

Bonds

NEWS PEOPLE: Fresh start

People

Argentina’s incoming president has been restocking his administration, while fallout from Brazil’s corruption scandal continues to impact the country’s largest firms

NEWS BONDS: New year, new market?

Bonds

An interest rate hike from the US Federal Reserve has buoyed the market with certainty, and bond market intermediaries are hopeful for a busy start to 2016

NEWS LOANS: Relationship tests

Loans

As bank lenders remain liquid and corporate creditworthiness weakens, the direction of pricing in the LatAm loan market is up for debate

NEWS EQUITY/M&A: Changing hands

M&A Equity

Mexico is set to lead the way in equity markets this year, while mergers & acquisitions are expected to increase as investors with long-term ambitions eye Brazilian asset...

COVER STORY: A new direction for investment banking

Bonds Features

As Latin America’s capital markets issuers grappled with an increasingly cool reception from international buyers, investment banking revenues nosedived in 2015. Now, int...

WEALTH MANAGEMENT FAMILY OFFICES: Growing force

Bonds

Latin American family offices are increasingly emerging in different corners of the financial markets, as they recalibrate their investment strategies in a bid to maximiz...

CAPITAL MARKETS CENTRAL AMERICA: Strength in numbers

Bonds Equity El Salvador

After more than a decade of discussion and planning, Panama and El Salvador are preparing to integrate their stock exchanges as the rest of Central America looks on. By L...

AWARDS: DEALS OF THE YEAR 2015

Corporate & Sovereign Strategy

A nimble, innovative approach to fickle markets helped Latin America’s most impressive institutions raise capital and execute strategic transactions in 2015. LatinFinance...

AWARDS: Sovereign Issuer & Sovereign Bond of the Year

Corporate & Sovereign Strategy Mexico Bonds

The sovereign set records and precedents for cross-border bonds across billions of dollars of issuances

AWARDS: Corporate Issuer, Quasi-Sovereign Bond & Financing Innovation of the Year

Corporate & Sovereign Strategy Mexico Bonds

The oil company once again led the way for Latin American issuers with a breadth of transactions, from the very large to the very novel

AWARDS: Corporate High-Grade Bond

Corporate & Sovereign Strategy Mexico Bonds

The Mexican food company overcame split ratings and a six-year hiatus from the bond market to score investment grade terms

AWARDS: Corporate High-Yield Bond

Corporate & Sovereign Strategy Bonds Colombia

A sub-investment grade issuer found strong demand for the first hybrid perpetual bond from Colombia

AWARDS: Sovereign Liability Management

Corporate & Sovereign Strategy Dominican Republic Bonds

The Caribbean sovereign stands out for a savvy transaction that significantly improved its debt profile

AWARDS: Corporate Liability Management

Corporate & Sovereign Strategy Brazil

Timing, significance and novelty highlight the protein producer’s transaction in a challenging market for Brazilian borrowers

AWARDS: Equity Follow-On, Cross-Border M&A

Corporate & Sovereign Strategy Brazil

Latin America’s largest follow-on this year financed a jumbo cross-border acquisition during a turbulent backdrop in Brazil

AWARDS: Initial Public Offering

Corporate & Sovereign Strategy Mexico

Latin America’s largest IPO of 2015 weathered the storm of a potential default in Greece, providing some light during a dark year for the equities market

AWARDS: Private Equity

Corporate & Sovereign Strategy Colombia

After a six-year investment, this Colombian fund made a highly profitable exit in a deal that underscores the rise of LatAm’s own buyside

AWARDS: Domestic M&A Deal

Corporate & Sovereign Strategy Argentina

An Argentine acquisition illustrates the impact of the country’s changing political landscape for corporates looking to capture growth

AWARDS: Syndicated loan

Corporate & Sovereign Strategy

A complex financing structure drew plaudits from rival bankers for its sophisticated execution and success in attracting new lenders

AWARDS: Restructuring

Corporate & Sovereign Strategy Mexico

This low-income homebuilder carried out a multi-billion dollar restructuring under new legislation, negotiating with thousands of creditors to reduce debt

AWARDS: Local Currency Deal

Corporate & Sovereign Strategy Peru

The Andean sovereign increased its investor base, extended its maturities and pre-financed debt in this remarkable liability management exercise

AWARDS: Structured Financing

Corporate & Sovereign Strategy Chile Brazil

This issuer became the first South American airline to employ a complex financing tool, overcoming untested legal ground in multiple jurisdictions to significantly upsize...

AWARDS: Trade Finance

Corporate & Sovereign Strategy Brazil

One borrower has bucked a trend of credit weakening in Brazil, underscoring its strengthening profile with a heavily-subscribed term loan extension

AWARDS: Law Firm: Latin America

Corporate & Sovereign Strategy

Participation on a wide variety of successful deals across the region set this practice apart

AWARDS: Law Firm: Brazil

Corporate & Sovereign Strategy Brazil

While emphasizing long-term client relationships, this firm is targeting a growing volume of mergers and acquisitions

AWARDS: Law Firm: Mexico

Corporate & Sovereign Strategy Mexico

This firm blends experience, with an emphasis on relationships and technical sophistication to maintain and grow its stable of clients that includes some of Mexico’s larg...

AWARDS: Law Firm: Andes

Corporate & Sovereign Strategy Colombia

Creativity, expertise and collaboration characterize this firm’s approach to clients and transactions

AWARDS: Bond House

Corporate & Sovereign Strategy Bonds

As a lack of issuance from Brazilian borrowers last year drove bond volumes across the region down to their lowest levels since 2009, Bank of America-Merrill Lynch emerge...

AWARDS: Equity House

Corporate & Sovereign Strategy Equity

A significant leap in this year’s league tables coupled with a wide-reaching network makes this bank stand out during a weak year for Latin American equities

AWARDS: M&A House

Corporate & Sovereign Strategy M&A

A global presence and a willingness to embrace complexity has propelled this bank to award-winning advisory roles

AWARDS: Loan House

Corporate & Sovereign Strategy Loans

The lender’s breadth and volume of activity throughout Latin America is complemented by a strategy that aims to include mid-size corporate clients and transactions

AWARDS: Investment Bank

Corporate & Sovereign Strategy

Blending the right amount of local, regional and global expertise has helped this firm shine in LatAm debt, equity capital markets and M&A

Parting Shot: Building strength

Bonds Panama Comment & Opinion

Finishing the canal expansion on-time and exiting the Financial Action Task Force gray list are top priorities for Panama this year, says Dulcidio De La Guardia

AWARDS: Syndicated loan (1)

Corporate & Sovereign Strategy

A complex financing structure drew plaudits from rival bankers for its sophisticated execution and success in attracting new lenders