LatAm Loans
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World’s ninth largest copper producer secured ‘competitive financing terms’ for new loan
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EM borrowers turning to bank finance but loan market window will not last forever
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After advising on DFC funding for BTG Pactual, investment bank EMGA says more to come from Latin America
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Three of the most active banks in financing oil exports from the Ecuadorian Amazon — an environmentally destructive industry with a long track record of trampling on indigenous people’s rights — have agreed to cease important parts of their financial support, after pressure from NGOs and a devastating oil spill in 2020.
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The Association of Brazil’s Indigenous Peoples has written an open letter to BlackRock’s CEO Larry Fink, who is expected to publish his annual letter to stakeholders this week. Apib wants BlackRock to end what it calls its “complicity” in the destruction of the Amazon rainforest, and to consult indigenous people as it finalises its new policy on biodiversity and deforestation.
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Outrage at the destruction of the Amazon rainforest — which often involves dispossessing indigenous people — is common among capital markets executives. But few realise that their own firms are financing it.
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Minera Las Bambas (MLB), a subsidiary of Hong Kong-listed MMG, has raised an $800m loan from four Chinese banks.
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Ex-Barclays banker joins Finsbury to develop equity advisory — Laubjerg hired for natural resources at HSBC — Rousseau leaves Deutsche and joins Citi
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Isaac Deutsch, who led Sumitomo Mitsui Banking Corporation's Americas specialized finance division between 2012 and 2018 before becoming the firm's deputy Americas CEO, is said to have departed from the bank earlier this week.
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The risk that huge amounts of oil and gas assets will be stranded by moves to tackle the climate emergency may be more pertinent for sovereign credit than for private sector corporate debt, according to new research.
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US rate cuts were, admittedly, the driver behind the Latin American international bond market’s return to form in 2019. Although regional growth remains disappointing, there are encouraging technical and fundamental signs to be found
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Emerging markets issuers are pumping out mandates, with the buy-side showing little sign yet of closing shop for the year, but investors are not throwing cash at everything.
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State Grid Corporation of China is seeking a loan to support its $2.23bn acquisition of Sempra Energy’s Chilean business. Even though it is a time of turmoil in Chile, lenders are bidding aggressively for the deal, owing to the state-owned Chinese company’s strong credentials, writes Pan Yue.
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Emerging market issuers continued to enjoy solid market conditions this week with new mandates joining the pipeline and Abu Dhabi’s Mamoura executing a $3.5bn triple tranche trade.
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State Grid Corporation of China is in talks with banks for a loan to support its $2.23bn acquisition of Sempra Energy’s Chilean business.
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BAC International Bank has returned to the loan market, seeking $100m from a global syndicate.
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GlobalCapital has published the nominations for its Sustainable and Responsible Capital Markets Awards. The winners will be announced on September 17, at our Awards Ceremony in Amsterdam.
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Emerging market loan bankers have been trying to understand the impact on syndicated lending of the US’s latest sanctions on Russia. The proscriptions have instilled more uncertainty into a collapsing market.
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It has been a sensational couple of weeks in emerging markets, with money flooding in and asset prices climbing ever higher, but the influx of new money is driving down yields further than some investors feel is justified.
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Xinjiang Goldwind Science and Technology is tapping the offshore loan market for a $475m green loan to support its windfarm projects in Argentina.
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Investors appear to be split over whether or not Turkey will follow through with its proposed purchase of a Russian S-400 missile system, in the face of likely sanctions from the US if it does.
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Conglomerate Alicorp sold the second global nuevo sol bond to emerge from Peru in a week on Wednesday, copying the execution pattern that worked well for Telefónica del Perú last week and pricing inside its lower-rated compatriot.
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Some investors are beginning to fear that the rally in emerging markets is running out of rope. Threats to Chinese growth could carry over and damage the prospects of emerging markets economies, according to Jupiter Asset Management.
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The outcome of Ukraine’s presidential elections at the end of March will bear great influence on the nation’s economic future, and investors are fearful of the results.