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Corruption, Political Deadlock Slow Peru’s Infrastructure Development Progress

As the Odebrecht scandal continues to resonate across Latin America, Peru remains one of the hardest hit regional economies, suffering the fallout both on its political establishment and subdued foreign investment at a time when the public sector is retrenching from key economic segments. The unexpected success of the referendum in January opened a path towards reform that could revitalize the…

19 Aug 2019

CASE STUDY: Multi-tranche Dual-currency Financing of Autopista Al Mar 1 Project Summons STRABAG

The unprecedented 6-tranche multicurrency project financing was one of the first post-Odebrecht transactions to close in Colombia, and saw the arrival to Latin America of the Austrian developer Strabag, for whom this was also one of the biggest deals of this type in its history.

15 Aug 2019

Red Hot Chile Paper: Orders Soar for Latin America’s First Sovereign Green Bond

Chile’s impeccably timed and well-executed deal saw a near 10x oversubscription on its dual-tranche green issuance worth nearly USD2.4bn (equivalent), which also became the sovereign’s first new issue with a negative NIP concession.

19 Jul 2019

CASE STUDY: Acciona Formalizes First ESG-Linked Loan in Chilean Markets

Following a successful debut in the European ESG-linked loan space in February, Acciona repeated the move with a dual-tranche dual-currency transaction worth USD30mn in Chile, only the third ESG linked loan in Latin America.

3 Jul 2019

Latin America Loan Market Heats Up as Hard Currency Liquidity Comes into Focus

Latin American borrowers continue to see strong demand from lenders and investors following a hectic year of elections in many of the region’s largest economies. We speak with Mauricio Voorduin, Managing Director, Latin America Regional Head; David Costa, Managing Director, Head of Latin America Finance; Sara Pirzada, Managing Director, Loan Syndications; and Mark Tuttle, Managing Director, DCM…

26 Apr 2019

Andean Borrowers Cut Through Volatility to Win Big at Bonds & Loans Latin America Awards

Despite a slowdown in some of the Andean region’s powerhouse economies and souring emerging market investor sentiment, many borrowers were unperturbed and moved into markets with inaugural, innovative transactions through much of last year. We take a closer look at some of the transactions originating from the region that won top prize at this year’s Bonds & Loans Latin America Awards.

17 Apr 2019

After Elections, Policy Uncertainty, Liquidity Concerns Weigh on Infrastructure Outlook in Americas

The dust is beginning to settle following one of the busiest election years in Latin America’s recent history, but concerns around policy reversals and a lack of sufficient liquidity in certain markets could mean infrastructure developers and investors focused on some of the region’s largest economies may not particularly like what they see. The early signs are worrying, to say the least.

1 Mar 2019

CASE STUDY: Frontera Completes Restructuring with Debut Dollar Market USD350mn Bond

The Canadian oil company navigated a challenging market backdrop to place an upsized USD350mn bond, its first in the USD market, to finance its operational investments in the Andean region, refinancing all of its outstanding 2021 notes in the process.

28 Jan 2019

Political Volatility Breaks Wave of M&As in Latin America

The first half of 2018 has seen a record-breaking volume of corporate consolidation across the globe, and Latin America has become a prominent setting for such activity. The latest slowdown in M&A activity is thought to be stemming from the peak of elections-related volatility, from Mexico to Brazil, and most expect business to continue as usual once the dust settles.

15 Nov 2018

Rising Rates, Volatility Force Latin American Banks, Borrowers to Adapt to “New Normal”

Latin American economies are facing a range of complex challenges, both internal and external, as they power through the current election super-cycle – arguably the most significant in the region’s history. Bonds & Loans spoke to a number of Latin America-focussed debt capital markets bankers, rating agencies and law firms in the Americas to get a sense of the major themes and concerns that will…

22 Oct 2018

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