Latin America
As LatAm Boosts China Links, Panda Bond Market Opens New Doors
China has over the years moved to strengthen its ties to Latin America in a range of areas, and a recently proposed free trade agreement between the Asian powerhouse and Mexico could take that one step further – potentially opening up a vast new trade and capital corridor between the two regions.
9 Oct 2017
Brazil: The Early Bird Catches the Worm
Some bad ideas are often repeated, hampering productive dialogue on a country’s economic agenda. In Brazil, many people think the decline in inflation was an inevitable result of the recession. Besides this, the Central Bank was supposedly lucky because of the bumper harvests of staple crops and benign external environment, which allowed the exchange rate to appreciate. Therefore, the economic…
3 Oct 2017
Latin America Credit Markets Brief: 14 September – 28 September
The Fed slows rate hikes – AT&T mulls LatAm payTV divestment – Amazon Inc. to build gigantic Mexican distribution warehouse – Mexico quake to trim GDP by 0.1-0.3% - Petrobras completes swap – Temer’s approval ratings at all-time low – Argentina outlook mixed, current account data suggests – Peru lowers policy rate for third time in 2017 – Venezuela running out of fiscal room – Chile MinFin says…
28 Sept 2017
Developing the NPL Secondary Market in Latin America
Though Latin American lenders have developed sophisticated risk management practices, which have allowed them to successfully manage economic headwinds, they still trail behind lenders in more developed markets when it comes to efficiently offloading NPLs off their books and developing the secondary NPL market.
26 Sept 2017
Brazil: The Urge to Spend
When the money runs out it’s never good, but there is a positive side. It guides the economic agenda to find better allocation and greater efficiency in public spending. In Brazil, we spend very poorly, both from the standpoint of economic efficiency as well as social justice.
26 Sept 2017
San Antonio Internacional CFO on The Long Road to the Capital Markets
San Antonio Internacional, an oil and gas company, just finalised its initial public offering scheme with the Comision Nacional de Valores (CNV) – paving the way for its debut in the debt markets. Bonds & Loans speaks with its CFO, Pablo Miedziak on what the company is doing to prepare for its first foray into the bond markets, and its funding objectives for the next year.
25 Sept 2017
HSBC on Argentina: It’s Time for Growth to Come Out of Hiding
Argentina’s credit pipeline has grown from virtual non-existence to accounting for almost a quarter of Latin American bond supply in just over a year, an impressive re-awakening not seen in global markets in decades. Bonds & Loans speaks with Gerry Mato, Chairman of the Americas as HSBC Global Banking and Markets, one of the lenders leading the market’s revival, on the outlook for Argentina’s…
22 Sept 2017
TIM Brasil CFO Sees Telecoms in Argentina, Brazil Mobilizing as Liquidity Returns
Brazil’s telecom sector was one of the region’s strongest performers, accounting for about 4% of the country’s GDP last year. But it was not immune to some of the country’s broader political and economic challenges, which in recent years has led to a liquidity crunch amidst even the largest reais-driven companies. Thankfully, a more prominent drive towards reform in Brazil means that trend is…
19 Sept 2017
Have BRICS Been Overshadowed by the Rest of the EM Pack?
Heads of state of the BRICS countries descended upon Xiamen, China earlier this month to discuss how to propel the bloc’s trade and commercial links forward. But with most of the organisation’s leading members knee-deep in political or economic mud, analysts are left wondering whether they have been overshadowed by the rest of the emerging market pack.
15 Sept 2017
Latin America Credit Markets Brief: 31 August – 14 September
A fortnightly review of Latin America's debt capital markets, covering the latest loan and bond deals, rating actions, policy and credit market developments... NAFTA negotiations refocus on labour costs – Uncertainty around Mexico’s CAT bonds following quake – Mexico gets growth forecast lift – Brazil introduces secured lending, covered bond reforms – Argentina to boost borrowing from…
14 Sept 2017