Americas
Market overview: Osvaldo Cado, Albanesi Group
After dabbling in the syndicated loan market for years, Argentine electricity producer Albanesi Group took the plunge into the dollar market in July with a US$250mn 7-year (non-call in 4 years) bond. Osvaldo Cado, Head of Corporate Finance and Investor Relations at Albanesi Group talks about the company’s recent US dollar bond, how it picks its banks, and its growth strategy for the coming year.
21 Sept 2016
Brazil: Winds of Change
A chasm exists between society and politics, aggravated by the Lava Jato investigations. Politics and society are out of sync, which undermines the course changes needed for the economy to advance toward a progressive agenda. Nevertheless, there are reasons for some optimism.
20 Sept 2016
Brazilian corporate bond issuance drives revival
There is a growing corporate debt pipeline looking to tap the dollar markets in Brazil as some issuers come back to the markets after a years’ absence, and are taking advantage of positive conditions that may not last for long. There is likely to be significant investor demand for such assets, which will further boost a corporate’s willingness to issue.
19 Sept 2016
Going local will help Peru attract foreign investors
Peru plans to exchange dollar-denominated debts for sol-denominated equivalents in expectations of the Fed raising rates in the near future. The decision is seen as a welcome move amongst international investors, and will benefit both Peru and the investment community by providing a longer maturity curve in local-currency debt.
15 Sept 2016
Venezuela loses another lifeline
With the cutting of Chinese funding from Venezuela’s dwindling economic lifeline, the country edges closer to default. Nevertheless, China’s financial aid is likely to only go so far, and long awaited structural reforms are in need. A replacement of the current administration, if successful, would prove a boon for the country’s assets and would be welcomed by the international community, however…
14 Sept 2016
Copper biggest influence on Chile’s future despite crucial fiscal reforms
Business confidence has been hit in Chile on concerns over the implementation of a number of reforms across the country. However, the positive performance of the Chilean Central Bank and Ministry of Finance has continued to place the country above many of its peers in Latin America. Nevertheless, the performance of the country’s economy remains heavily tied to the price of copper, the leading…
14 Sept 2016
CFO View: Rodrigo Guzman, CFO, Mexichem - Extracting Capital from Commodities
Although Mexico’s economy is now less reliant on commodity prices than in the past, revenues from the sector do still make up a sizeable proportion of the country’s GDP. We speak to Rodrigo Guzman, CFO, Mexichem about the company’s future projects and funding opportunities for the petrochemicals sector amid the new economic realities.
12 Sept 2016
Jorge Unda, CIO, BBVA Bancomer Asset Management on the best investment opportunities in Mexico
Following the recent energy reforms as well as methods to tackle corruption, the outlook for investing in Mexico is improving. Jorge Unda, CIO at BBVA Bancomer Asset Management offers his insight into where the best investment opportunities lie.
12 Sept 2016
Green bonds set for launch at Mexico City’s new airport
Mexico City’s new airport is poised to issue green bonds to cover part of the project’s financing needs. The issuance comes after a number of other green bond issuances from Mexico, particularly from the country’s development bank. With such issuance looking set to continue, the nation’s position as a leading green bond issuer across EMs appears secure.
9 Sept 2016
Tim Hall: A Global Credit Snapshot
With a low rate environment looking to persist well into next year, it looks like a perfect storm for issuers is taking shape – particularly in emerging markets, where yield hungry investors are searching for higher returns. We speak with Tim Hall, who previously served as Global Head of DCM at Credit Agricole CIB, about the global credit outlook, how DM and EM market shocks – like Brexit or the…
9 Sept 2016