Monthly Archives: October 2013

Charles Stewart: Employee #1

In 1996, Charles Stewart left Morgan Stanley’s New York office, where he was an analyst in the M&A department focusing mainly on Latin American M&A, and headed south to Latin America. He opened the Brazil office, quite literally: Stewart was … Continue reading

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DCM: LatAm issuers enjoy Fed-sponsored harvest

Issuers from Latin America have taken advantage of the improvement in the international debt capital markets following the US Federal Reserve’s decision not to taper its $85 billion monthly asset purchase programme. The decision, which was contrary to most observers’ … Continue reading

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Mexico’s fiscal reform is mixed blessing for banks

Mexico’s long-awaited tax proposals were given a muted welcome by bankers and economists, who had been hoping for a more fundamental reform of Mexico’s fiscal base. The government expects that its reforms will increase aggregate tax receipts from the private sector by … Continue reading

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Cash management in Brazil: Local knowledge bears fruit

In Brazil the domestic banks are managing to convince companies that in the provision of cash management services being local is best. This year’s Euromoney cash management survey shows that the universal banking model has limited appeal. HSBC remains ranked second in … Continue reading

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BNDES strategy confusion

The level of commitment of Brazilian development bank BNDES to support new capital market structures to finance infrastructure projects has been thrown into doubt by the bank’s recent strategy. Despite the bank’s clear official commitment to help develop alternative capital sources – … Continue reading

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Brazil markets will instigate policy change – BlackRock

BlackRock’s Gerardo Rodriguez Regordosa says he believes that the markets are punishing Brazil for policy mistakes and that this is likely to lead to a shift in economic policy by the government of Latin America’s biggest economy. “It is difficult for countries, especially those … Continue reading

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Rodovias do Tietê closes Brazil’s first project finance bond at second time of asking

On the first evening of their international roadshow, Rodovias do Tietê’s CFO, Ricardo Oliveira, and its controller, Thiago Jordão, were in Chile’s capital, Santiago. The first day had gone well and hopes were high that the following two weeks would … Continue reading

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