LatinFinance - May/June 2016 - 30

INVESTOR
REPORT
JAPAN-LATIN
AMERICA

Lending
A growing banking
attraction
PAGE 31

Bonds
Borrowers and
investors inch closer
PAGE 34

Cash in hand
At a time when some European and US banks are reducing their presence in Latin America,
Japan's biggest banks have decided it's time to step in.
Consider this: not a single Japanese bank appeared in Dealogic's Latin American loan
rankings in 2009. Last year, three finished in the top 10 bookrunners in Latin America's loan
rankings. In the first quarter of 2016, Mizuho, one of Japan's so-called mega banks, topped
the list.
The increased activity in recent months comes after the Japanese Central Bank lowered
its interest rates, causing domestic investors to reconsider where to allocate funds at time
when issuers are increasingly looking abroad for debt.
Japan's lenders are carving out a footprint in Latin America's lending space and looking to
capitalize on the region's growing infrastructure pipeline.
Bond investors are also proving a deep funding source for a range of Latin American borrowers. Latin American development bank, CAF, and sovereigns such as Mexico are familiar
names in the market. But while Japanese portfolio managers are increasingly focusing on
returns, it is still likely to be tough going for lower-rated Latin issuers considering a possible
Yen issuance.
Our Japan-Latin America report examines the potential for more Yen issuances, and elements that could sway or deter prospective issuers and investors. LF
30 L ATINFINA NCE.COM - May/June 2016

http://www.LATINFINANCE.COM

Table of Contents for the Digital Edition of LatinFinance - May/June 2016

Contents
LatinFinance - May/June 2016 - Cover1
LatinFinance - May/June 2016 - Cover2
LatinFinance - May/June 2016 - Contents
LatinFinance - May/June 2016 - 2
LatinFinance - May/June 2016 - 3
LatinFinance - May/June 2016 - 4
LatinFinance - May/June 2016 - 5
LatinFinance - May/June 2016 - 6
LatinFinance - May/June 2016 - 7
LatinFinance - May/June 2016 - 8
LatinFinance - May/June 2016 - 9
LatinFinance - May/June 2016 - 10
LatinFinance - May/June 2016 - 11
LatinFinance - May/June 2016 - 12
LatinFinance - May/June 2016 - 13
LatinFinance - May/June 2016 - 14
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LatinFinance - May/June 2016 - 16
LatinFinance - May/June 2016 - 17
LatinFinance - May/June 2016 - 18
LatinFinance - May/June 2016 - 19
LatinFinance - May/June 2016 - 20
LatinFinance - May/June 2016 - 21
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LatinFinance - May/June 2016 - 30
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LatinFinance - May/June 2016 - 48
LatinFinance - May/June 2016 - Cover3
LatinFinance - May/June 2016 - Cover4
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