Americas
Odinsa CFO: Colombia’s Economic Tailwinds, New Government to Bolster Existing 4G Pipeline
Colombia is a world leader when it comes to public-private partnerships in the infrastructure sector, and the country’s flagship toll road infrastructure initiative – the 4G programme – is regularly held up as a beacon for other regional economies to replicate. But last year, due in part to eroding economic fundamentals and political volatility, many of the programme’s key projects were hit with…
7 Aug 2018
Nexxus Capital CFO on Mezzanine Financing, CERPIs, and Looking Past Political Noise
Nexxus Capital, a Mexican private equity fund, has been at the forefront of helping bring to market small and medium-sized firms with high exposure to the local market, as well as those in southern Europe. We spoke to Roberto Langenauer, Managing Partner and CFO of Nexxus about their innovative approach to raising capital, and the increasing role of Mexican pension funds, known as Afores.
1 Aug 2018
CASE STUDY: BancoEstado’s CLP50bn Bond Continues Chile’s ESG Story
The Chilean lender maintained its leading role in the country’s ESG space and continued to promote financial inclusion with the first social bond to hit the local market, priced at CLP50bn, or equivalent of USD83mn.
26 Jul 2018
Brazil Economic Outlook: Weighed Down
Economic data has taken a turn for the worse in Brazil following a nationwide truckers’ strike in May and early June that crippled economic activity. Industrial production recorded the largest contraction in almost 10 years in May, and the manufacturing PMI plunged into contractionary territory in June.
25 Jul 2018
The Coming US Recession Triggers: What You Need to Know
There are many potential triggers or combination of triggers that investors monitor – increasingly now given where we are in the current cycle – to try to predict when the next recession will arrive. It is hard to pinpoint specific causes historically aside, perhaps, from catastrophic policy (fiscal or monetary) mistakes or unanticipated global economic shocks. The reality is that many of the…
20 Jul 2018
Juan Pablo Newman on Mexico’s Elections, Peso’s Resilience and Samurai Bonds
As Mexico continues to show resilience in the face of multiple external challenges, including stalemate in the NAFTA negotiations, pressure on the EM currencies from a rallying dollar and global trade wars, its debt capital markets have largely switched into a wait-and-see mode. But issuance windows offer plenty of opportunities, so we speak to Juan Pablo Newman, the Head of Public Credit at the…
17 Jul 2018
EM Bond Outlook: Better 2H 2018 Expected
It has been a tough start to the year for emerging market bonds, but things are looking up as we head into 2H 2018 – you just need to know where to look.
12 Jul 2018
Brazil: Lessons from the Dollar
Which way will the dollar go? Economists don’t have sufficiently robust instruments to answer that question.
10 Jul 2018
Trump’s Trade War with China: Impact on EM FX and Rates
US President Donald Trump unilaterally started the trade war with China and he shows no signs of letting up. His policies on trade mark a major departure from America’s long-standing commitment to free markets. The combination of protectionist measures and fiscal profligacy is likely to further increase the challenges faced by American companies in their quest to compete internationally by…
6 Jul 2018
SWOT Analysis: Mexico Elections and Beyond
As Mexico voted in the new president, Bonds & Loans met with a broad range of local finance leaders, corporate chiefs and state officials to discuss the market outlook and get a sense of the risks and opportunities on the horizon.
4 Jul 2018