Monthly Archives: August 2014

Brazil: Local bonds rally on suppressed FX volatility

The central bank of Brazil’s policy to lower FX volatility has created profitable investment opportunities for international investors while exacerbating domestic economic weaknesses.  Investors and economists say Brazil is opening profitable trades for offshore asset managers by its targeting of … Continue reading

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Samurai bond: Mexico diversifies via Japan

Mexico’s strategy of diversifying its investor base is succeeding, say bankers, following the sovereign’s multi-tranche samurai transaction, which was priced on July 15 and included a 20-year tenor. The issuer had approached the market with the intention of extending its … Continue reading

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Brazil: Caixa makes a hybrid first

Caixa Economica Federal (CEF) has issued Latin America’s first fully market-distributed Basel III-compliant hybrid transaction. The Brazilian state bank sold a $500 million deal in mid-July, pricing the 7.25% coupon on the 10 non-call five bonds at par, or 555 … Continue reading

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BTG buys Swiss Private Bank

BTG Pactual is acquiring Swiss Private Bank BSI in a deal that will boost the Brazilian bank’s international private banking proposition. The deal, which is subject to regulatory approval and is expected to close in the first quarter of 2015, … Continue reading

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