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Mexico

Latin America Credit Markets Brief: June 22 - July 5

Global debt reaches US$21tn – Mexico’s Central Bank completes annual hiking cycle – Brazil’s Temer indicted with corruption charges – Banco Mercantil del Norte places US$900mn – Argentina’s Cordoba province taps international markets with US$450mn bond – Colombia Movil closes US$300mn syndicated loan – Ecuador downgraded by S&P from ‘B’ to ‘B-‘ – Discounted Venezuela bonds now trading on Wall…

5 Jul 2017

Private Placements: an Emerging Latam Trend

Latin American corporates are reaping the benefits of private placements, as yield-starved investors are drawn to region's shores.

18 May 2017

CASE STUDY: EU Investors Take Big Bite out of Sigma Alimentos’ €600mn Private Placement

Sigma Alimentos, a leader in refrigerated foods with presence in Mexico, Europe, USA and Latin America, priced a €600mn private placement through its existing curve off the back of strong demand from European investors, which were eager to get a piece of the company’s first investment grade transaction and its first trade in Europe.

24 Apr 2017

Colombian Banks’ Shopping Spree in Central America is Paying Dividends

When in 2008, large US and European banks left Central America as the economic crisis unfolded in developed markets, Colombian banks spotted an opportunity to take the lead in the region’s oft- overlooked financial system – a move that is paying dividends given the region’s strong growth.

13 Apr 2017

Odebrecht Could Lead to Stronger Corporate Governance in Latin America

The Odebrecht scandal could be a game changer for corporate governance in Latin America, with investors demanding more transparency in the way the region does business.

17 Mar 2017

Lack of Information, Regulation, Peso Volatility Holding Green Bonds Back in Mexico

Mexico seems set on becoming a sustainable finance leader, but a lack of information and clear-cut regulations, and an increasingly volatile peso, seem to be holding potential green bond issuers back.

15 Mar 2017

Will Mexico’s Currency Gambit Pay Off?

Few currencies have suffered more since the surprise election of Donald Trump last year than the Mexican peso. Trump made Mexico a cornerstone of his electoral campaign and attacked the Central American country on a number of issues ranging from illegal immigration to the renegotiation of the North American Trade Agreement (NAFTA), which put increasing pressure on the country’s currency and drove…

13 Mar 2017

Protectionism and the Market Repercussions

As populist politicians and leaders rise to prominence in the developed world, anti-globalist attitudes and protectionism are also entering the economic frame. With Trump casting doubts over the future of NAFTA and Brexit putting a strain on EU's economic integration, Richard Segal, Senior Analyst at Manulife Asset Management, considers some of the practical effects these policies may bring in…

21 Feb 2017

Mexico: Currency is Undervalued, but Politics Holds Forth the Possibility of an Unexpected Outcome

While it's still a long way off, we believe markets will become increasingly focused on Mexico's July 1st 2018 presidential elections. Of note, in Mexico’s electoral system one need only win a plurality of the vote in a single round.

6 Feb 2017

Mexico, US: Is a Mexican Standoff Inevitable?

The notion that no party can walk away from the current Mexico-US confrontation unscathed is quickly gaining prominence among investors, issuers and observers. While investors are starting to move out of their short Mexican positions, analysts are split on what effect a Trump presidency, impending 2018 elections, and a new Central Bank governor will have on the country’s medium term prospects.

2 Feb 2017

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