South America

Results for South America

Brazil's Fibria Drops Controversial Covenant Language

Brazilian pulp and paper company Fibria dropped controversial language on a 10-year Green bond on Wednesday amid strong investor pushback, sources told IFR. Fibria was one of several companies this week to drop the aggressive terms, which make it easier ...

Daily Headline - global.abi.org - 01/11/2017 - 22:43 - 0 comments

Brazil Scandal Leaves Dreams Undone in Venezuela

A thousand abandoned concrete huts dot a plain beneath a remote mountain range here in western Venezuela, surrounded by empty, rusting silos and irrigation canals covered with weeds. This is the Diluvio agro-industrial commune, built with $2 billion of V ...

Daily Headline - global.abi.org - 01/04/2017 - 20:56 - 0 comments

Former Argentine President Cristina Kirchner Indicted in Corruption Case

A judge indicted ex-President Cristina Kirchner on corruption charges involving public works and ordered millions of dollars of her assets to be frozen, escalating the legal troubles facing the former Argentine leader, The Wall Street Journal reporte ...

Daily Headline - global.abi.org - 12/27/2016 - 21:27 - 0 comments

Brazil's Oi Creditor Group Proposes Debt Swap, $11 Billion Investment Plan

A group led by creditors and Egyptian billionaire Naguib Sawiris unveiled on Friday an alternative restructuring proposal for debt-laden Brazilian phone carrier Oi SA that contemplates 37 billion reais ($11 billion) in investments over five years in exch ...

Daily Headline - global.abi.org - 12/18/2016 - 16:31 - 0 comments

Venezuela Voids Popular Form of Currency, Setting Off Panic

Carrying trash bags and backpacks filled with cash, Venezuelans fretfully lined up on Friday outside banks across the country to exchange currency that President Nicolás Maduro said would soon be void. Mr. Maduro’s decision that all 100-bolívar notes mus ...

Daily Headline - global.abi.org - 12/18/2016 - 16:31 - 0 comments

Shipbuilder Ecovix, Units File For Bankruptcy Protection In Brazil

Ecovix Engevix Construções Oceánicas SA and five subsidiaries have filed for bankruptcy protection in a federal commercial court, succumbing to a debt burden of 8 billion reais ($2.4 billion) and a plunge in shipbuilding, Reuters reported. In a statement ...

Daily Headline - global.abi.org - 12/18/2016 - 16:32 - 0 comments

Brazil May Ease Takeover Rules For Troubled Firms, Paper Says

The Brazilian government is considering easing legislation overseeing the acquisition of companies in distress or under bankruptcy protection by making buyers less liable for the burden of past obligations, O Estado de S. Paulo newspaper reported on Thur ...

Daily Headline - global.abi.org - 12/15/2016 - 19:53 - 0 comments

Brazil’s Senate Passes Constitutional Amendment to Cap Public Spending

Brazil’s Senate on Tuesday approved a measure capping public spending, delivering a victory to embattled President Michel Temer, who is struggling to close a massive budget deficit and revive the nation’s moribund economy, The Wall Street Journal rep ...

Daily Headline - global.abi.org - 12/13/2016 - 21:01 - 0 comments

Venezuelans Rush to Banks to Exchange Bills During Crackdown on Contraband

Venezuelans desperately rushed to banks Tuesday to dump cash after the government announced it is eliminating the largest circulating bank note to combat contraband in a country whipsawed by the world’s deepest recession and highest inflation, The Wall ...

Daily Headline - global.abi.org - 12/13/2016 - 21:02 - 0 comments

Oi Open To Sweeter Terms For Creditors In Debt Deal

Oi, the Brazilian telecom operator at the centre of a R$65bn debt default, the largest in the country’s history, is likely to consider more favourable debt-for-equity swap conditions for creditors in talks this week, the Financial Times reported. Oi ...

Daily Headline - global.abi.org - 12/12/2016 - 20:46 - 0 comments

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