Americas
Banco Safra’s Chief Economist: High Taxes, Protectionism Still Driving the ‘Brazil Premium’
Carlos Kawall, the lead economist at one of Brazil’s most prominent banks, talks about the improving macro outlook for the country, burdensome tax and labour laws and the dark shadow of looming presidential elections.
3 May 2018
Lundin Gold CFO Alessandro Bitelli on Financing Mining Projects in Ecuador
Alessandro Bitelli, Executive Vice President & Chief Financial Officer at Lundin Gold, a Canadian gold miner, talks about the company’s Latin American ventures, a USD300mn deal to finance a project in Ecuador, a further loan syndication and a USD400mn equity transaction, as well as broader market outlook and the impact of politics.
1 May 2018
Brazil: Crossing the 6 Mark
We are in uncharted waters regarding the level of basic interest rate, continuing a series of cuts that is the longest in history. It is possible, however, to foresee even more reductions of the Selic, despite the various uncertainties that the Central Bank faces.
25 Apr 2018
Colombia Sees Improving Internal, External Economic Conditions
Colombia's Central Bank Governor Juan José Echavarría speaks with Bonds & Loans about the economy, interest rates, and blockchain.
17 Apr 2018
Yes, Brazil Has an Agenda
Pre-candidates to the Presidency slowly reveal their vision about economic policies. As one might suspect, there is good and bad news.
11 Apr 2018
Promigas CFO Aquiles Mercado González on Promioriente, Brilla and Expansion
Bonds & Loans speaks with Aquiles Mercado González, Chief Financial Officer at Promigas, on its distribution subsidiary’s hugely successful local market bond transaction, new opportunities for growth, and the company’s innovative non-bank financing programme.
5 Apr 2018
CASE STUDY: MTP Navigates Regulatory Unknowns to Issue Mexico’s First Tower Securitization
The first securitization sponsored by Mexico Tower Partners included a much-anticipated 5-year bullet repayment date (ARD) and marked the first wireless tower-backed securitization in Mexico. The structure allowed MTP to waive CNBV’s partial dependence requirement, repay the existing credit facility and keep the remaining proceeds from the issuance.
28 Mar 2018
The War on Trade: How US Protectionism Threatens Global Stability
The US has taken unilateral action to start a potential trade war with China. This is a policy mistake of gigantic proportions resting on a misunderstanding about how open economies work. The direction of US economic policy contrasts sharply with Chinese policies and we expect only a measured, proportional and targeted response from China, which will remain open to deeper trading ties with third…
27 Mar 2018
Referendum Boost Opens Ecuador to Fiscal Rebalancing
Last summer the investor community lamented the election of Lenin Moreno as Ecuador’s new president, anticipating “more of the same” from ex-leader Rafael Correa’s long-time ally and protégé. In calling for a referendum on term limits, however, Moreno appears to have delivered an unexpected blow to his predecessor’s comeback plans. Now it is time to address the fiscal “elephant in the room”.
21 Mar 2018
Tecnoglass Chief Financial Officer: ‘We must reactivate industry, consumption and construction’
Tecnoglass, among a select few Colombian non-financial corporates to take the plunge in the international bond markets last year, is looking to consolidate its investments over the past few years. The company’s Chief Financial Officer Santiago Giraldo López tells Bonds & Loans the company will look out for strategic growth opportunities in 2018, but risks still ride high on election uncertainty…
15 Mar 2018