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Americas

Regulatory Tweak Expected to Boost Foreign Investment in Paraguayan PPP Projects

So far a lot of institutional investors from Europe and North America have been cautious of the construction and other risks associated with public works projects in the Southern Cone nation, but this may all change following an upcoming legislative change.

29 Jan 2020

Mexico 2020 Growth Forecast Revised Down Amid Frail Business Confidence

Inflation and investment are expected to remain steady, with potential upside from the manufacturing sector if USMCA is finalized, Banorte analysis predicts.

27 Jan 2020

Brazil Enjoys Record High Debenture Issuance Despite Regulatory Constraints

With an infrastructure gap estimated at USD50bn annually, Brazil is falling behind many of its regional peers. As the state pulls back from financing projects, private investors are ready and willing to step in – but many tell Bonds & Loans they need a steady and enabling regulatory environment to find their footing in the sector.

24 Jan 2020

Ecuador, Chile Join Growing List of Regional Issuers out of Latin America

The issuance pipeline in Latin America has really opened up this month with Ecuador and Chile joining a list of sovereigns tapping the international bond markets, including Colombia, Paraguay, and Mexico.

23 Jan 2020

Ferroport Debt Refinanced with Alternative Payment Schedules and “Funky” Use of Collateral

Ferroport’s USD350 million project bond issuance and Brazilian debenture bridge financing included very innovative uses of flexible payment profiles and cash escrow accounts. It was also rare 144z/RegS single-offtaker deal, carried out in a jurisdiction that is typically quite challenging for project financings.

22 Jan 2020

Engie Energia Heats Up Chile Bond Markets with USD400mn Bond

It is the latest in a series of bond deals out of the Andean region, as investors seem unfaced by the social protests engulfing one of Latin America’s most successful economies.

16 Jan 2020

HSBC LatAm Global Banking Head: Sustainability Key for Resilience

While Latin American markets faced a series of domestic and global pressures throughout much of 2019, this year could see a number of those factors ease – creating new opportunities for capital allocators and fundraisers across the region and asset classes, Katia Bouazza, HSBC’s Head of Global Banking for the Latin America Region, tells Bonds & Loans in a wide-ranging interview on the outlook for…

14 Jan 2020

Argentina’s Pragmatic Economic Team Bodes Well for Outlook – Ashmore Group

Argentina’s president-elect revealed his new cabinet this week, a team that included Martin Guzman, a notorious IMF critic and debt restructuring specialist as Economy Minister – a move EM-focused fund managers at Ashmore took as a welcome sign.

13 Dec 2019

CASE STUDY: Panama Achieves Lowest Rates, Longest Tenor with USD2bn Sovereign Bond

The dual-tranche Eurobond, issued at a politically delicate moment that saw a new government take the reins in Panama, was the country’s largest single transaction and generated an impressive oversubscription rate of over 5x.

11 Dec 2019

Bolivia: Political Upheaval Undercuts Latin America’s Socialist Fairy Tale

The flight of Bolivia’s president Evo Morales following street protests and an intervention by the country’s armed forces was in some ways the least unexpected turn of events making waves across Latin America’s political landscape. While for the last decade the Andean nation has been a beacon of stability and high growth, much of it came from generous but unsustainable fiscal policies ripe for…

5 Dec 2019

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