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Americas

Uruguay on Negative Watch amid Sluggish Growth and Fiscal Concerns – Fitch

In its latest assessment the ratings agency warns elevated public debt is driven even higher as the new coalition government comes into office.

24 Feb 2020

CASE STUDY: Quiport Lands First Corporate Bond Out of Ecuador in Decades

The bond proceeds have gone towards refinancing the first greenfield airport project in Latin America in 10 years.

21 Feb 2020

Brazil Delays Administrative Reforms Again, According to Local Press

An administrative reform package that was to be sent to Brazil’s lower house yesterday has been delayed, according to a report in local press, an ominous sign for more ambitious reforms due to be introduced.

21 Feb 2020

IMF Warns Argentina Bond Holders That Haircuts May be "Unavoidable"

The Fund held a series of “productive” meetings with Argentine officials in Buenos Aires, commending the overall efforts to restore growth and reduce poverty, but signalled that write-offs will be inevitable.

20 Feb 2020

Latin America 2020: The Good, The Bad, and The Ugly

Take a good look at Latin America’s 21 countries today, and one quickly concludes that this is not a region moving in unison but rather a patchwork of divergent political and economic motors firing at different speeds, taking each in different directions. Rarely has it been this challenging to analyze Latin America as a whole, so it seems appropriate to showcase Latin America’s differences…

11 Feb 2020

Termocandelaria CEO, CFO on Colombia’s Rising Energy Capacity, Funding Plans, and Importance of ESG for Renewables Companies

In January 2019 Termocandelaria, the largest non-hydro power generation company in Colombia tapped the international capital markets for the first time with a USD410mn offering of 7.875% senior notes due 2029, marking the first corporate high-yield bond out of Latin America that year. A year on to the day, Termocandelaria re-tapped its existing bond for a further USD186mn at an impressive 110% of…

6 Feb 2020

Province of Buenos Aires Blinks on Debt Repayment, Catching Some Investors Off-Guard

The Province of Buenos Aires said this week that it would make a payment on its January 2021 bonds after failing to reach an agreement with enough creditors on extending a delay, which came as a positive surprise to observers and creditors owed some USD3bn in payments due this year.

5 Feb 2020

CASE STUDY: CABEI Places Latin America’s First AA-Rated Green Bond

The notes, listed on both, the Luxembourg and Taipei Stock Exchanges, priced at a spread of 85bp over 3M-LIBOR attracted significant appetite from Asian and European investors.

31 Jan 2020

Growth of Brazilian Economy looks Set to Double 2019 Rate as Recovery Picks Up – BBVA

The Brazilian economy is on track to expand in the first quarter of 2020 with full-year growth expectations also improving, according to economists at BBVA.

31 Jan 2020

BlackRock Fixed Income CIO: Fed’s Policy Statement “Abnormally Normal”

Rick Rieder, BlackRock’s Chief Investment Officer of Global Fixed Income says that while the Fed’s apparent commitment to continued easing and expansion is reassuring, they may look to rein in some of the ‘plentiful’ liquidity pumped into financial markets in recent years.

30 Jan 2020

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