South America

Results for South America

Brazil's Triunfo Clinches $673 Million Restructuring With Banks

TPI Triunfo Participações & Investimentos SA and a pool of about 20 banks have agreed on terms to restructure 2.113 billion real ($672.6 million) of debt, giving the Brazilian infrastructure firm a lifeline to finalise projects and downsize gradually ...

Daily Headline - global.abi.org - 07/23/2017 - 21:59 - 0 comments

Brazil's Oi Board Approves $2.5 Billion Capital Raise Plan

The board of Oi SA on Wednesday approved a plan to raise 8 billion reais ($2.5 billion) in fresh capital from shareholders and investors as a way to accelerate the Brazilian wireless carrier's emergence from bankruptcy, Reuters reported. In a statem ...

Daily Headline - global.abi.org - 07/19/2017 - 23:02 - 0 comments

China Could Have a Say on Venezuela's Future

More than 7 million Venezuelans went to the polls to vote against President Nicolas Maduro last weekend. But the more consequential opinion on Maduro's future may belong to China, Venezuela's ... (China, Venezuela) More than 7 million Venezuelans went to the polls to vote against President Nicolas ...

Daily Headline - global.abi.org - 07/18/2017 - 22:18 - 0 comments

Investors Preparing for Venezuela's 'End Game' Look to the Cheapest Bonds

With political and social tension in Venezuela on the rise, investors should prepare for the “end game” by seeking out the country’s lowest-priced debt, according to Deutsche Bank AG. The cheapest bonds -- which generally carry longer maturities -- will ...

Daily Headline - global.abi.org - 07/17/2017 - 22:21 - 0 comments

Venezuela’s Crisis Drains its Foreign Reserves

Venezuela’s foreign reserves have dropped below $10bn for the first time in 15 years as chronic mismanagement, corruption and subdued oil prices continue to batter what used to be the wealthiest country in South America, the Financial Times reported. ...

Daily Headline - global.abi.org - 07/16/2017 - 23:00 - 0 comments

Venezuela Cut Deeper Into Junk by S&P

The world’s riskiest credit got another jolt after S&P Global Ratings lowered Venezuela’s rating deeper into junk as the economy spirals down amid heightened political tension, Bloomberg News reported. S&P reduced the nation’s long-term foreign a ...

Daily Headline - global.abi.org - 07/11/2017 - 21:55 - 0 comments

Political Meltdown Foils Oi Exit From $19 Billion Bankruptcy

For more than a year, Oi SA has struggled to reach a deal with various factions jockeying for a leg up in its $19 billion bankruptcy case, Bloomberg News reported. Almost entirely absent from that process? The company’s single biggest creditor. Brazil’s ...

Daily Headline - global.abi.org - 07/10/2017 - 22:04 - 0 comments

Mauricio Macri Should Be Getting Nervous

You'd think that steering a country away from the brink of economic catastrophe might buy a young administration some slack, but not in Argentina, where tolerance for anything short of miracle-making runs thin, a Bloomberg View reported. So maybe it ...

Daily Headline - global.abi.org - 07/09/2017 - 22:07 - 0 comments

Venezuela's PDVSA Is Said to Plan Investor Calls Next Week

Venezuela’s state oil company, one of the most distressed credits in emerging markets, hired BancTrust & Co. to help arrange calls with investors, according to a person with direct knowledge of the matter, Bloomberg News reported. The calls with Petr ...

Daily Headline - global.abi.org - 07/06/2017 - 22:15 - 0 comments

Venezuela's Default Risk Is Rising

Bets on a Venezuelan default are climbing as international reserves slump toward $10 billion amid anti-government protests and President Nicolas Maduro’s push to rewrite the constitution. The implied probability of the country missing a payment over the ...

Daily Headline - global.abi.org - 07/05/2017 - 22:07 - 0 comments

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