Latin Finance - March/April 2012 - 1

Contents
March/April 2012

MAN OF THE YEAR

12 América Móvil is now a truly global telecom and one of the region’s most skillful capital-markets operators. CFO Carlos Garcia Moreno is LatinFinance’s Man of the Year.

LOCAL CURRENCY DEBT BRAZIL PRIVATE EQUITY ASIA BUYSIDE

16 Can local currency credit markets evolve to include both local and foreign accounts? 19 Private equity firms rush to Brazil despite the large amounts of money being deployed there. 22 LatAm issuers see little Asia buyside participation, but greater efforts are being made to cultivate these accounts.

12 Man of the Year

Brazil Private Equity 19

SECONDARY MARKETS

24 Shrinking liquidity in the corporate debt markets is starting to alarm investors.

FINANCE MINISTRY SCORECARDS BRAZIL INVESTOR REPORT

26 LatinFinance ranks the best finance ministers and public credit heads in the region. 32 Markets cheer the appointment of a new Petrobras CEO. 36 Banco do Brasil breaks new ground with hybrid perp. 39 Oil services company Lupatech faces an uphill struggle. 44 Bankers vie for a foothold in a booming wealth management segment. 47 Offshore assets soar in price as foreigners fight to secure oil-rich real-estate.

22 Asia Buyside

Secondary Market 24

MEXICO INVESTOR REPORT

50 Vitro’s restructuring raises questions over bankruptcy system. 53 Bottling-sector consolidation is underway. More is expected.

ANDEAN INVESTOR REPORT

56 Chile fails in efforts to kick start huaso market. 59 Can Peru meet investment needs in the face of potential social unrest? 63 Colombia’s banking system is enjoying its salad days amid an acquisition frenzy.

26 Finance Ministry Scorecards

Brazil Investor Report 31

Who said that?
“I am going to be much more careful and demand a premium given the many loopholes in the Concurso Mercantil framework.”
See page 50

LatinFinance® (USPS 004-662), (ISSN 1048-535X) is published bi-monthly by Latin American Financial Publications, Inc., 1101 Brickell Avenue, Suite N1200, Miami, Florida, 33131 USA. Periodicals postage paid at Miami, FL and at additional mailing offices. POSTMASTER: SEND ADDRESS CHANGES TO: 1101 Brickell Avenue, Suite N1200, Miami, Florida, 33131 USA Copyright© 2012 Latin American Financial Publications, Inc. All rights reserved. Reproduction in whole or in part of any text, photograph, or illustration without written permission from the publisher is strictly prohibited. Title is protected through a trademark registration with the US Patent Office. LatinFinance Roundtables and Special Reports are underwritten by sponsors, although the magazine’s editors retain control over the content of these articles to ensure their objectivity and independence.

March/April 2012

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Latin Finance - March/April 2012

Table of Contents for the Digital Edition of Latin Finance - March/April 2012

Latin Finance - March/April 2012
Contents
Man of the Year
Local Currency Debt
Brazil Private Equity
Asia Buyside
Secondary Markets
Finance Ministry Scorecards
Markets cheer the appointment of a new Petrobras CEO
Banco do Brasil breaks new ground with hybrid perp
Oil services company Lupatech faces an uphill struggle
Bankers vie for a foothold in a booming wealth management segment
Offshore assets soar in price as foreigners fight to secure oil-rich real-estate
Vitro’s restructuring raises questions over bankruptcy system
Bottling-sector consolidation is underway. More is expected
Chile fails in efforts to kick start huaso market
Can Peru meet investment needs in the face of potential social unrest?
Colombia’s banking system is enjoying its salad days amid an acquisition frenzy
Latin Finance - March/April 2012 - Latin Finance - March/April 2012
Latin Finance - March/April 2012 - Cover2
Latin Finance - March/April 2012 - Contents
Latin Finance - March/April 2012 - 2
Latin Finance - March/April 2012 - 3
Latin Finance - March/April 2012 - 4
Latin Finance - March/April 2012 - 5
Latin Finance - March/April 2012 - 6
Latin Finance - March/April 2012 - 7
Latin Finance - March/April 2012 - 8
Latin Finance - March/April 2012 - 9
Latin Finance - March/April 2012 - 10
Latin Finance - March/April 2012 - 11
Latin Finance - March/April 2012 - Man of the Year
Latin Finance - March/April 2012 - 13
Latin Finance - March/April 2012 - 14
Latin Finance - March/April 2012 - 15
Latin Finance - March/April 2012 - Local Currency Debt
Latin Finance - March/April 2012 - 17
Latin Finance - March/April 2012 - 18
Latin Finance - March/April 2012 - Brazil Private Equity
Latin Finance - March/April 2012 - 20
Latin Finance - March/April 2012 - 21
Latin Finance - March/April 2012 - Asia Buyside
Latin Finance - March/April 2012 - 23
Latin Finance - March/April 2012 - Secondary Markets
Latin Finance - March/April 2012 - 25
Latin Finance - March/April 2012 - Finance Ministry Scorecards
Latin Finance - March/April 2012 - 27
Latin Finance - March/April 2012 - 28
Latin Finance - March/April 2012 - 29
Latin Finance - March/April 2012 - 30
Latin Finance - March/April 2012 - 31
Latin Finance - March/April 2012 - Markets cheer the appointment of a new Petrobras CEO
Latin Finance - March/April 2012 - 33
Latin Finance - March/April 2012 - 34
Latin Finance - March/April 2012 - 35
Latin Finance - March/April 2012 - Banco do Brasil breaks new ground with hybrid perp
Latin Finance - March/April 2012 - 37
Latin Finance - March/April 2012 - 38
Latin Finance - March/April 2012 - Oil services company Lupatech faces an uphill struggle
Latin Finance - March/April 2012 - 40
Latin Finance - March/April 2012 - 41
Latin Finance - March/April 2012 - 42
Latin Finance - March/April 2012 - 43
Latin Finance - March/April 2012 - Bankers vie for a foothold in a booming wealth management segment
Latin Finance - March/April 2012 - 45
Latin Finance - March/April 2012 - 46
Latin Finance - March/April 2012 - Offshore assets soar in price as foreigners fight to secure oil-rich real-estate
Latin Finance - March/April 2012 - 48
Latin Finance - March/April 2012 - 49
Latin Finance - March/April 2012 - Vitro’s restructuring raises questions over bankruptcy system
Latin Finance - March/April 2012 - 51
Latin Finance - March/April 2012 - 52
Latin Finance - March/April 2012 - Bottling-sector consolidation is underway. More is expected
Latin Finance - March/April 2012 - 54
Latin Finance - March/April 2012 - 55
Latin Finance - March/April 2012 - Chile fails in efforts to kick start huaso market
Latin Finance - March/April 2012 - 57
Latin Finance - March/April 2012 - 58
Latin Finance - March/April 2012 - Can Peru meet investment needs in the face of potential social unrest?
Latin Finance - March/April 2012 - 60
Latin Finance - March/April 2012 - 61
Latin Finance - March/April 2012 - 62
Latin Finance - March/April 2012 - Colombia’s banking system is enjoying its salad days amid an acquisition frenzy
Latin Finance - March/April 2012 - 64
Latin Finance - March/April 2012 - Cover3
Latin Finance - March/April 2012 - Cover4
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