AES’s sizable pipeline of projects in LatAm gives it an enviable position when it comes to bargaining with lenders. Chilean unit AES Gener succeeded in closing in October 27 a $989 million project financing with a 17.5-year tenor.
Category: Awards
Posted inMagazine
BEST BOND HOUSE
This is far from the most dynamic market in the history of LatAm DCM, but one shop has fought its way to the top, building on five years’ hard work. For the first time ever, HSBC is our Bond House of the Year, and its global reach and heavy balance sheet leave it in a strong position for 2009.
Posted inMagazine
BEST FINANCING INNOVATION
Afores have in recent years been flush with cash to spend on long-term investments. Restrictions on where they can put it, however, have limited their options and often diverted funds from projects.
Posted inMagazine
BEST LOAN HOUSE
The 12 months through October 2008 marked a turning point for LatAm syndicated loans. The period is characterized by extreme turbulence that rattled its participants, upended deals, and shifted the rankings of leading institutions.
Posted inMagazine
BEST EQUITY HOUSE
While 2008 saw a dramatic reduction in the number of LatAm IPOs and follow-on offerings compared to 2007, the past year brought a handful of unusual and notable deals that mark an advance for the region as a whole.
Posted inMagazine
BEST SOVEREIGN ISSUER/LIABILITY MANAGEMENT
Don’t be fooled by size. Uruguay has consistently punched above its weight as a debt issuer and risk manager this decade. The issuer topped off a successful streak of liability management by steering investors to long-dated global and domestic bonds through November 2007 and June 2008 tenders.
Posted inMagazine
BEST SOVEREIGN BOND
As LatAm issuers plan their funding strategies this year, they may look back fondly on a time when sovereigns could get new issue spreads of 170 basis points on 30-year paper.
Posted inMagazine
BEST SUB-SOVEREIGN FINANCING
Capitalizing on upgrades and market opportunity, State of Mexico declined to use any major investment banks for its 25 billion peso refinance which extended duration and slashed the price on most liabilities.
Posted inMagazine
BEST CORPORATE ISSUER/EQUITY FOLLOW-ON
Gerdau, the Brazilian multinational steel company with assets spread around the region and in the US, has been the most frequent user of LatAm capital markets in the past year.
Posted inMagazine
BEST SYNDICATED LOAN/CORPORATE BOND ISSUE
Braskem’s March 2007 bid to acquire Ipiranga and Copesul unleashed a series of financings that kept the Brazilian petrochemicals giant in constant discussions with its bankers, lenders and investors through the subsequent 18-month period.