AWARDS: Deals of the Year 2014
January 16, 2015
The past year was a tougher one than many dealmakers in Latin America expected, and particularly for those working with Brazilian issuers. Global shifts in sentiment and outflows from emerging market funds meant deals were pulled even in Mexico, where optimism was high.
Astute decision making became more important in 2014 as investor concern about emerging markets grew, Mexico’s reforms took shape and Brazil’s elections paused deals. LatinFinance selects the deals and institutions that managed those hurdles most effectively
For bond markets, record levels of issuance continued. But windows with the best conditions became smaller. Also, urgency turned to locking in lower funding costs and extending maturities, rather than raising funds for growth. That made picking the right timing and format for debt sales critical.
These awards recognize the deals and institutions which performed best in this changing financial world for Latin America and the Caribbean. The winners were selected by LatinFinance’s editorial team following a rigorous evaluation of data, and extensive discussion with market participants.
The deals represent the most impressive transactions executed by companies and government borrowers between October 1, 2013 and September 30, 2014. The selection process took into account the market significance or strategic importance of deals, and how they were structured and executed.
Banks’ and law firms’ role in these winning deals — as well as the volume and diversity of trades they worked on and their role in the most successful and sophisticated transactions — went toward determining the winning institutions.
Looking to 2015, US rate hikes are approaching, but many issuers are better prepared. Equity bankers are hopeful for a rebound in issuance, even in Brazil — and if macro-economic adjustment there means more volatility, M&A bankers say foreign strategic investors will take advantage of lower valuations. LF
See full details on each award:
|LatinFinance announced its 2014 Deals of the Year |
Awards at a special gala dinner in New York on
January 15, 2015. Scroll through the slideshow to
see highlights from the evening
CORPORATE HIGH-GRADE BOND
CORPORATE HIGH-YIELD BOND
SOVEREIGN LIABILITY MANAGEMENT
CORPORATE LIABILITY MANAGEMENT
INITIAL PUBLIC OFFERING
FOLLOW ON EQUITY
PRIVATE EQUITY DEAL
CROSS-BORDER M&A DEAL
DOMESTIC M&A DEAL
LOCAL CURRENCY DEAL
TRADE FINANCE DEAL
LAW FIRM: BRAZIL
LAW FIRM: MEXICO
LAW FIRM: ANDES
LAW FIRM: LATAM
BEST INVESTMENT BANK