LatinFinance is the leading source of value-added financial markets intelligence for Latin America and the Caribbean.

Published from New York and Miami, with a network of correspondents across Latin America and the Caribbean, LatinFinance has covered banking and capital markets in the region for two decades.

It is the authoritative source on debt, equity, structured finance, syndicated loans, private equity and M&A, as well as multilateral financing, people moves and secondary trading.

The LatinFinance Daily Brief delivers the latest news, while the monthly magazine and data-intensive website, www.latinfinance.com, add the further context and analysis required to do business in these fast-moving markets.

Read the Digital Issue: Latin Finance Magazine, November/December 2009

LATAM-CHINA FLOWS
18 As Chinese investment increases, LatAm tries to be more than just a cheap supplier of raw materials. Skeptics are wary of China’s track record in other regions.
PETROBRAS INTERVIEW
24 Development of the pre-salt fields in Brazil put Petrobras firmly centre stage. Presidential elections loom and detail is lacking, but oil experts are excited.
BEST BOUTIQUES
28 Specialist providers of investment banking services have attracted top quality talent in the downturn. The challenge is maintaining momentum as markets revive.
BANKS OF THE YEAR 2009
32 The comprehensive annual LatinFinance survey of retail and local investment banks includes 25 awards across 18 countries through Latin America and the Caribbean.
ITAÚ UNIBANCO INTERVIEW
35 Brazil’s newly minted banking behemoth is bolstering domestic business while readying a push overseas. Itaú Unibanco is poised to take on the world.
35 MEXICO How to capitalize on crisis.
39 COLOMBIA Local shop repels foreign pretenders.
40 CHILE Perfecting the art of retail.
43 EL SALVADOR A foreign-owned bank dominates.
INFRASTRUCTURE & ENERGY AWARDS
50 The crisis has thrown essential long-term infrastructure
projects for a loop. Despite this, quality projects have succeeded and the pipeline is creeping back to life.
PRIVATE EQUITY FUNDRAISING
55 As the economic outlook brightens, so do prospects for private equity fundraising. Is an uptick really happening, or is it all just wishful thinking?

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FRONT NOTES
Standing up to China

More good news for an already bulled up LatAm market comes from China, which is bearing gifts in the form of large and seemingly cheap financing. Facilities for América Móvil, Petrobras and Coca Codo Sinclair will funnel at least $12.7 billion in Chinese cash to Latin borrowers this year. More is on the way.

The Asian nation has accumulated more than $2.1 trillion in foreign reserves and is on a LatAmwide spree to tie up raw materials that can feed over 1.3 billion people. Much of that population is impoverished, and the communist government aims to create value for its people, generate jobs, and raise per capita income. To hit target, China requires steel, copper, oil and protein – all of which LatAm has in abundance.

The flip side of the equation is that LatAm grapples with the same social issues and is also trying to become less irrelevant on the world stage. It has a chance now to cut a good deal and make sure raw materials are not sold for a song, only to be bought back later as Chinese finished goods. On the surface, Chinese investors take a long view, unencumbered by typical buyside. ...

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