Latin America
Brazil’s Ministry of Economy on Fiscal Goals, Pension Reform, and Filling the Funding Gap Post-BNDES
In an exclusive interview with Bonds & Loans, Adolfo Sachsida, Secretary of Economic Policy, Ministry of Economy, Brazil, comments on the recent “merger” of the economic and finance ministries, the legacy of “fiscal irresponsibility” of the Lula administration, the recent recovery and progress on the pension reform front, and funding objectives for the year ahead.
22 Jul 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
Brazil: Despite a Challenging Outlook, the Local Market Grows Leaps and Bounds
It has not been an easy 12 months for Brazil’s corporate sector, which faces a multitude of challenges, both internal and external. Bolsonaro’s victory in the elections, though divisive, at least provided some reprieve from the political uncertainty that has weighed on Brazil’s markets in the run up to the vote. Still, many questions remain around the direction of policy, and the new government’s…
15 Jul 2019
Felipe Bomfim: Common to Invest in Infrastructure After Recessions, Brazil Is Very Competitive
Bonds & Loans spoke to Felipe Bomfim, Director at Patria Infrastructure, on pensions reform, festering growth of local capital markets and why the glass is always half-full for investors doing business in Brazil.
11 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
Brookfield Americas Infrastructure Debt Head Sees New Opportunities in Telecoms, Renewables
Hadley Peer Marshall, Managing Director of Infrastructure Debt at Brookfield speaks with Bonds & Loans about managing local currency constraints when investing in infrastructure in Latin America, and new sectors generating investment opportunities.
28 Jun 2019
Brazil: Beware of Murphy’s Law
The current fragile state of Brazil’s economy carries high risks. This time around, there are no buffers, because the unemployment rate is already at record highs. A recession now would entail social costs much greater than those of 2015, warns XPI's Zeina Latif.
14 Jun 2019
Off the Record: Peru’s Miners See CSR, ESG, Innovation as Key to Unlocking Funding
As Brazil braces for another tailing dam collapse, Miners & Investors talked with Peruvian majors’ CFOs and their investors about the industry’s challenges and opportunities for the year ahead. Majors demonstrated healthy financing positions with low expansion pipelines; juniors, on the other hand, continued to explore alternative financing in a dry equity market. All made mention of social…
12 Jun 2019
Bolsonaro: The Unpopular Populist?
As the new president's rating continues to drop, XPI's Zeina Latif contrasts him to the populists of the past and assesses the challenges he will be facing on the police front in coming months.
7 Jun 2019
Total Eren: ECAs Key to Argentine Power Funding as Banks Sit Out the Volatility
RenovAr, Argentina’s flagship solar and renewables programme, has struggled in recent months due to the severe macroeconomic challenges weighing on the country. But as the country’s markets stabilise, developers focused on the region remain cautious as upcoming elections later this year could result in a change of direction. We speak with Martin Parodi, Managing Director, Total Eren Argentina,…
14 May 2019