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Latin America

Total Eren: ECAs Key to Argentine Power Funding as Banks Sit Out the Volatility

RenovAr, Argentina’s flagship solar and renewables programme, has struggled in recent months due to the severe macroeconomic challenges weighing on the country. But as the country’s markets stabilise, developers focused on the region remain cautious as upcoming elections later this year could result in a change of direction. We speak with Martin Parodi, Managing Director, Total Eren Argentina, one of Argentina’s leading solar and wind power players, about the outlook for the country’s power sector and the factors influencing the company’s funding strategy.

Latin America Loan Market Heats Up as Hard Currency Liquidity Comes into Focus

Latin American borrowers continue to see strong demand from lenders and investors following a hectic year of elections in many of the region’s largest economies. We speak with Mauricio Voorduin, Managing Director, Latin America Regional Head; David Costa, Managing Director, Head of Latin America Finance; Sara Pirzada, Managing Director, Loan Syndications; and Mark Tuttle, Managing Director, DCM at Mizuho Securities, a regional funding leader, about some of the key trends prevalent in the region’s markets throughout the first quarter of this year, and why it’s never been a better time of borrowers to move into the dollar markets.

Andean Borrowers Cut Through Volatility to Win Big at Bonds & Loans Latin America Awards

Despite a slowdown in some of the Andean region’s powerhouse economies and souring emerging market investor sentiment, many borrowers were unperturbed and moved into markets with inaugural, innovative transactions through much of last year. We take a closer look at some of the transactions originating from the region that won top prize at this year’s Bonds & Loans Latin America Awards.

Mexico & Brazil: Populism’s First 100 Days

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 security. While they may not share the same visions of prosperity or the means by which they are attained, the two leaders do share challenges, writes Brian Mullaney, Strategist, Global MacroViews.

Argentina: An Economy in Election Mode

Miguel ZIelonka, chartered financial analyst at Econviews, provides some insight into some of the pain points impeding Argentina's economic recovery and measures the government is implementing to mitigate some of those threats.

Scrapped New City Airport, Struggling Pemex Dominate Discussions at HSBC Mexico Roundtable

Mexican borrowers are gradually adjusting to the new market environment that has emerged since the inauguration of Andrés Manuel López Obrador, and amid broader emerging market volatility driven by the rise in global interest rates. Nevertheless, CFOs at a Breakfast Roundtable hosted by HSBC and Bonds & Loans in Mexico in February have raised important questions about some of the new administration’s policy decisions, highlighting the need for clear, consistent and transparent decision-making as essential in their bid to secure stronger growth and investment.

Brazil: The Battle for Reform

As the new government's agenda begins to take shape, Bolsonaro and Co may be better positioned than his predecessor to push through much needed reforms. But will he succeed? XPI economist Zeina Latif provides her take.

Brazil: The Foreign Investor Awaits

An influx of foreign investment following a long-awaited pensions reform is not a given, warns XPI's Zeina Latif.

After Elections, Policy Uncertainty, Liquidity Concerns Weigh on Infrastructure Outlook in Americas

The dust is beginning to settle following one of the busiest election years in Latin America’s recent history, but concerns around policy reversals and a lack of sufficient liquidity in certain markets could mean infrastructure developers and investors focused on some of the region’s largest economies may not particularly like what they see. The early signs are worrying, to say the least.

Votorantim Energia CFO: Uncertainty Now Punctuates Everyday Decision-Making

Bonds & Loans speaks with Raul Cadena, Chief Financial Officer of Votorantim Energia, about the company’s funding and M&A strategy for 2019, and value creation in Brazil’s growing electricity generation segment.

 

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