LatAm Bonds
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Only remarkable conditions will draw Uruguay back to the international bond markets in 2015, the country’s debt management unit (DMU) told GlobalCapital.
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BNP Paribas Securities Services has named one of its senior bankers to run its operations in Brazil. -
Emerging markets telecoms company Digicel reduced its interest rate burden on Tuesday after issuing a new eight year bond to buy back more expensive debt due in 2017.
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As some analysts had predicted, Moody's cut Petrobras's investment-grade rating from Moody’s on Tuesday. But that was just the start of the bad news for the Brazilian state-owned oil company.
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Uruguay’s timing to bring a deal after a rally in its bonds on Monday allowed it to chose size over price on its return to international debt markets.
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Argentina’s economic policy secretary accused US judge Thomas Griesa and court-appointed mediator Daniel Pollack of “answering to the vulture funds” after Pollack publicly wrote on Thursday that the Argentine government had not responded to a proposal by the holdout investors to negotiate.
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EM distressed debt manager Greylock Capital has replaced one JP with another by hiring a new head of research from JP Morgan Asset Management.
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Another week without international bond issuance from Latin America left many syndicate bankers twiddling thumbs this week despite strong secondary markets.
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Latin America bond bankers said that a drive for transparency in Central American countries explained why Costa Rica on Tuesday took the unusual step of issuing a press release stating it had mandated Deutsche Bank and HSBC for a bond issue later this year.
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A Mexican-led consortium building fibre optic cable network in Peru is planning a bond with a rare structure aimed at reducing risk.
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The Costa Rican finance ministry took the unusual step of revealing how it selected the bookrunners for its next bond — before the deal has happened.
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LatAm bankers should know better than anyone that there is nothing silly about improving transparency in public sector contracting practices.
