Latin American economies are facing a range of complex challenges, both internal and external, as they power through the current election super-cycle – arguably the most significant in the region’s history. Bonds & Loans spoke to a number of Latin America-focussed debt capital markets bankers, rating agencies and law firms in the Americas to get a sense of the major themes and concerns that will dominate the agenda in coming months.
Bonds & Loans team spent some time on the ground in Colombia to meet with a broad range of local finance leaders in order to get a sense of the risks and opportunities on the horizon in the Andean country.
Miguel Rubio, Country Manager, for Acciona Energy, a subsidiary of the Spanish renewable project developer Acciona, talks to Bonds & Loans about the company’s joint venture with Tuto Energy following their landmark USD264mn 18-year project finance deal, solar energy production growth, and strategic initiatives in Mexico and beyond.
With an election almost every couple of months in the Americas, it seems 2018 is shaping up to be one of the most politically volatile periods the region has seen in over a decade. Coupled with the increasing de-synchronisation of regional growth and rising prevalence of macroeconomic and political factors globally, how borrowers satisfy their funding requirements through the remainder of the year is coming sharply into focus. We speak with Monica Macia, Head of Loan Syndications, Americas at HSBC about how the loan market is evolving in line with the shifting dynamics on the ground in the Americas.
There are plenty of examples of judicial activism in the world. The theme is old, but many specialists claim that it became more prominent in the post-World War II era, as a reaction to the inability of parliaments to curb infringement on individual rights.
We speak with Edward Uribe, CFO, at Grupo Alumina about how US trade policy is affecting the company’s funding outlook and the prospects for the metals and construction sectors.
There is no lack of tricks, opportunism and muddling in Brazil's latest electoral race. It is hard to determine what is worse: the silence of Jair Bolsonaro on basic economic issues or the incapacity of PT for renewing its economic agenda.
Months of uncertainty finally ended in July as Mexico decisively voted in its new president, Andres Manuel Lopez Obrador (better known as AMLO), an ageing left-wing icon with populist appeal. With almost six months until the official inauguration, he is trying to woo the markets with a more conciliatory tone. If the currency and bond yields are anything to go by, it appears to have worked, but will it manifest in policy?
The unique A/B private placement structure was a rarity in the capital markets in light of its inclusion of both senior and subordinated tranches. It’s also the third green project bond issued out of Latin America.
- Luft Energia CEO Doris Capurro Eyes Multilaterals, ECAs for Argentina Renewables Funding
- Barings: Brazil's Industrial Production Soars in June after Truckers' Strike Ends
- Odinsa CFO: Colombia’s Economic Tailwinds, New Government to Bolster Existing 4G Pipeline
- Nexxus Capital CFO on Mezzanine Financing, CERPIs, and Looking Past Political Noise
- CASE STUDY: BancoEstado’s CLP50bn Bond Continues Chile’s ESG Story
18 Oct 2018