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A new analysis by the IIF indicates that struggling state-owned giants such as Pemex and Eskom remain vulnerable and pose risks to their respective countries’ sovereign credit outlook.
30 Jan 2020
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
The asset class that first came to prominence in the region several years ago is resurfacing in a big way, driven by investors’ hunger for yield and diversification, helping SMEs and corporates source alternative funding in the meantime. But questions are being asked about the sustainability of private debt were the global environment to deteriorate and liquidity to drain from the market.
28 Nov 2019
The Mexican REIT followed up its June USD1bn issuance with an impressive USD1.1bn dual-tranche revolving committed credit facility, with the spread linked to pre-agreed sustainability KPIs, an instrument that was the first of its kind in the region.
15 Nov 2019
In 2020, Latin America’s largest markets are largely going be to characterised by picky investors, persistently low yields, infrastructure development, LIBOR-related woes, and socio-political upheaval, according to dozens of bankers, investors, lawyers and credit ratings agencies who spoke with Bonds & Loans on a recent trip to the region. We’ve summarised the top five themes likely to drive the…
12 Nov 2019
A sleepy summer period for Mexico’s capital markets was awoken by a slew of real estate deals, including bonds issued by Fibra Uno and Terrafina, but the extent to which these issuances reflect sustained resilience and heightened activity in the sector, at a time when a slowing economy is posing challenges for most corporate issuers, remains unclear.
29 Oct 2019
Chile’s impeccably timed and well-executed debut foray into the Green bond market set a number of milestones, building on a growing pipeline of Green and ESG-linked transactions in the Americas, and reinforcing the trend that these formats are viable components of the funding toolkit for a broadening range of organisations. More impressively so, Chile executed its inaugural Green issuances in USD…
9 Oct 2019
Terrafina, one of Mexico’s top real estate investment trusts, issued a USD500mn 10-year senior unsecured international bond that saw 5x oversubscription at peak and priced at an impressive 4.962%, joining a spate of issuances from the real estate sector – one of the busiest in terms of volumes in Mexican fixed-income.
19 Sep 2019
Fibra UNO, the first and largest real estate investment trust (REIT) in Mexico, was able to upsize its dual-tranche USD1bn bond with an innovative “long-distance” roadshow that saw over 4x oversubscription from a variety of international investors.
7 Aug 2019
In elections last year, voters in both Brazil and Mexico opted overwhelmingly for populist candidates. To be sure, Latin American populism takes many shapes. In Mexico, Andres Manuel Lopez Obrador’s version (AMLO) promised significantly higher spending on social programmes and infrastructure. Brazil’s new President, Jair Bolsonaro, has pledged assertive efforts to clamp down on crime and boost…
9 Apr 2019