Americas
VIDEO: Interview with Pablo Miedziak, CFO, Aerolineas Argentinas S.A
At the Bonds, Loans & Derivatives Argentina conference, Bonds & Loans interviewed Pablo Miedziak, CFO, Aerolineas Argentinas S.A., to discuss his outlook for Argentina’s aviation sector and Aerolineas Argentinas major strategic initiatives for 2017.
20 Dec 2016
ECAs Increasingly Central to Financing the Andean Infrastructure Pipeline
New projects and opportunities continue to attract a broad range of lenders and investors to places like Colombia and Peru, with the next wave of 4G infrastructure projects in the case of the former and revitalization of investment authority ProInversion in the case of the latter catalyzing the region’s project pipeline.
19 Dec 2016
Silverado Asset-Backed Securities: Lessons for Investors
Why would Latin America Structured Finance Advisors (LASFA) write an article that airs the dirty laundry for the Brazilian Asset-backed Security market (ABS market or ABS) when it is currently seeking investors for this market? Because many foreign investors are lured by the high interest rates offered in Brazil’s local credit markets and this is a discussion that any investor needs to consider…
14 Dec 2016
VIDEO: Interview with Jean-Dominique Bütikofer, Head EM Fixed Income, Voya Investment Management
At the Bonds, Loans & Derivatives Argentina conference, Bonds & Loans interviewed Jean-Dominique (JD) Bütikofer, Head Emerging Markets Fixed Income, Voya Investment Management discusse which sectors he sees driving the Argentine credit market in 2017.
14 Dec 2016
EM Market Update: 2017 to See Modest Returns
Since the U.S Presidential Election nearly a month ago, Emerging Market Bonds have reacted negatively, selling off 2.2% before stabilizing and even recouping a modest portion of the loss in the last 4-5 trading sessions. As the table below shows the overall decline has been led by Mexico, which declined 4.6% in November.
9 Dec 2016
No Two EM Bankruptcies the Same
Oi’s Dutch units may be forced to declare bankruptcy in the Brazilian telecom giant’s ongoing bankruptcy saga. Whilst distressed EM companies with offshore assets in DMs are appealing, bankruptcies across the EM world are nuanced and carry unique consequences for investors.
5 Dec 2016
Could Post-Castro Cuba Open Doors for Foreign Capital?
For years Cuba has existed in its own ‘socialist bubble’, which was established and maintained over the past five decades by Fidel Castro, his brother Raul and their followers. With the Comandante’s passing, could the Caribbean island finally be ready to integrate with the global economy and open itself to international investors?
2 Dec 2016
Make EMs Great Again: Trading on Trump
Emerging market outflows have hit record highs and EM bond spreads have widened by over 17bp since business magnate Donald Trump won the US election, a result that continues to influence markets nearly three weeks after the President-elect declared victory. As a picture of what a Trump presidency means for global markets begins to form, EM investors are starting to emerge from the sidelines in…
2 Dec 2016
Top Dealmaker: Gonzalo Alvarez-Cañedo, Santander
Mr. Álvarez-Cañedo is the Head of Debt Capital Markets, Asset Rotation & Capital Optimization, being responsible for the origination, structuring and execution of corporate bonds, securitized bonds and commercial paper transactions. Since January 2016, he is also responsible for the distribution of all balance sheet products originated by Santander GCB within institutional investors, banks and…
1 Dec 2016
BRAZIL: Response to Crisis Requires Honest Appraisal and Clear Path Forward
When it rains, it pours, so they say. It started with the victory of Donald Trump, which raised the level of uncertainty over the international environment, with clear repercussions on asset prices – stocks, exchange rates, future interest rates. Then came the explosion of the fiscal crisis in Rio de Janeiro, with the reaction of civil servants and resistance of the State Legislative Assembly to…
1 Dec 2016