/raid1/www/Hosts/bankrupt/TCRLA_Public/240513.mbx
T R O U B L E D C O M P A N Y R E P O R T E R
L A T I N A M E R I C A
Monday, May 13, 2024, Vol. 25, No. 96
Headlines
A R G E N T I N A
ARGENTINA: Milei Government Hikes Taxes on Dividends Going Abroad
ARGENTINA: Power Producers Seek Better Terms for US$2-Billion Debt
ENTRE RIOS: S&P Affirms 'CCC' LT ICR, Alters Outlook to Neg
TELAM: Milei Government Shutters Provincial Outposts
C A Y M A N I S L A N D S
FTX TRADING: Eversheds & Morris Update Ad Hoc Committee Members
C O L O M B I A
BANCO DE OCCIDENTE: Fitch Rates Tier 2 Subordinated Notes 'BB-'
J A M A I C A
JAMAICA: BOJ Pumps US$30 Million Into Forex Market
U R U G U A Y
MERCADOLIBRE INC: Argentine Banks Files Suit for "Abusive Conduct"
X X X X X X X X
[*] BOND PRICING: For the Week May 6 to May 10, 2024
- - - - -
=================
A R G E N T I N A
=================
ARGENTINA: Milei Government Hikes Taxes on Dividends Going Abroad
-----------------------------------------------------------------
Buenos Aires Times reports that president Javier Milei's government
has decided to extend the so-called 'PAiS (Para una Argentina
Inclusiva y Solidaria) tax' to the purchase of foreign currency for
sending dividends abroad.
The move runs counter to the government's liberal policies but is
in tune with its fiscal needs in a recessive economic context with
both production and consumption slumping.
At the same time the government has authorised currency going
abroad for bond payments, which are also subject to the PAiS tax.
According to the decree signed by Milei and Economy Minister Luis
Caputo, the measure seeks to "continue deepening the incentives for
national investment" while at the same time "guaranteeing a
sustainable fiscal path."
President Milei announced in April that Argentina had closed the
first quarter of this year with a financial surplus of over 275
billion pesos (US$309 million at the official exchange rate), which
he considered "a historic feat."
To achieve that he has applied draconian austerity to pensions,
paralysed public works, eliminated subsidies and frozen budgets at
2023 levels with annual inflation running at 290 percent.
The cost has been growing social conflict with street protests and
general strike by the CGT, the second called against Milei's
austerity policies since the government took office last December.
About Argentina
Argentina is a country located mostly in the southern half of South
America. Its capital is Buenos Aires. Javier Milei is the current
president of Argentina after winning the November 19, 2023 general
election. He succeeded Alberto Angel Fernandez in the position.
Argentina has the third largest economy in Latin America. The
country's economy is an upper middle-income economy for fiscal year
2019, according to the World Bank. Historically, however, its
economic performance has been very uneven, with high economic
growth alternating with severe recessions, income maldistribution
and in the recent decades, increasing poverty.
The IMF's executive board completed on August 23, 2023, the fifth
and six reviews of Argentina's 30-month Extended Fund Facility
(EFF), and approved a US$7.5-billion disbursement to Argentina as
part of the larger program, which refinances payments Argentina
owes the institution from a previous bailout that failed to
stabilize the economy in 2018. Argentina would receive another IMF
disbursement in November of about US$2.75 billion pending another
staff-level agreement and board approval.
S&P Global Ratings, on March 15, 2024, raised its local currency
sovereign credit ratings on Argentina to 'CCC/C' from 'SD/SD' and
its national scale rating to 'raB+' from 'SD'. S&P also raised its
long-term foreign currency sovereign credit rating to 'CCC' from
'CCC-' and affirmed its 'C' short-term foreign currency rating. The
outlook on the long-term ratings is stable. In addition, S&P
revised its transfer and convertibility assessment to 'CCC' from
'CCC-'.
S&P said the stable outlook on the long-term ratings balances the
risks posed by pronounced economic imbalances and policy
uncertainties with the favorable change in near-term debt service
obligations. S&P also expect no further debt exchanges that it
would likely consider to be distressed.
Fitch Ratings upgraded on June 13, 2023, Argentina's Long-Term
Foreign Currency (FC) Issuer Default Rating (IDR) to 'CC' from
'C'and affirmed the Long-Term Local Currency (LC) IDR at 'CCC-'.
Fitch typically does not assign Outlooks to sovereigns with a
rating of 'CCC+' or below.
The upgrade of the FC IDR reflects that Fitch no longer deems a
default-like process to have begun, as the authorities have not
signaled a clear intention to follow through with an intra-public
debt swap announced in March. The new 'CC' rating signals a default
event of some sort appears probable in the coming years, regardless
of the outcome of upcoming elections. The affirmation of the LC IDR
at 'CCC-' follows the peso debt swap in June that Fitch did not
deem to be a "distressed debt exchange" (DDE).
Moody's Investors Service, in September 2022, affirmed Argentina's
Ca foreign-currency and local-currency long-term issuer and senior
unsecured ratings. The outlook remains stable. The decision to
affirm the Ca ratings balances Argentina's limited market access,
weak governance, and history of recurrent debt restructurings with
recent efforts to marshal fiscal and monetary measures to start
addressing underlying macroeconomic imbalances in the context of
the IMF program that was approved in 2022, according to Moody's.
DBRS, Inc. confirmed Argentina's Long-Term Foreign Currency Issuer
Rating at CCC and downgraded its Long-Term Local Currency Issuer
Rating to CCC from CCC (high) on March 3, 2023.
ARGENTINA: Power Producers Seek Better Terms for US$2-Billion Debt
------------------------------------------------------------------
Jonathan Gilbert at Bloomberg News reports that Argentina's
privately-run power producers will reject an offer by the
government to settle a debt that's mushroomed to about US$2
billion, Pampa Energia SA Chief Executive Officer Gustavo Mariani
said.
The producers -- led by Pampa and Central Puerto SA, which together
supply about 30 percent of Argentina's energy -- want better terms
for the debt, which began to accumulate late last year when
President Javier Milei's government stopped paying them as part of
a broader effort to shrink its budget deficit, according to
Bloomberg News.
Most of the current offer by the government, published in the
federal register, is comprised of a sovereign bond in hard currency
maturing in 2038, the report relays. The bond is trading at about
50 cents on the dollar, so Milei is essentially asking companies to
take just half of the money due, Bloomberg News discloses.
In the period from December to February alone, Pampa says it's owed
US$163 million by state power wholesaler Cammesa, some of which
it's already written off, Bloomberg News relays. The government
covers a chunk of the cost of power generation for Argentine
residents and industry, and channels those subsidies to producers
through Cammesa, Bloomberg News notes.
Milei is working to slash the energy subsidy bill, but must tread
carefully to avoid social unrest, notes the report.
While Mariani said he's optimistic a deal can be reached, he
insisted that -- for Pampa at least -- there's one issue they won't
budge on: the government can't rack up any more debt, Bloomberg
News says.
"Crucial to this negotiation is that going forward we have the
visibility that payments will begin to be current and on time,"
Mariani said on an earnings call. "So that the stock of debt is
limited and will not continue increasing," he added.
For Maria Moyano Hidalgo, a senior corporate debt analyst at Adcap
Capital Securities in Buenos Aires, the chief risk for Argentina's
power producers isn't so much the initial hit to their balance
sheets, but how a bad deal would impact investor perceptions in the
long term, Bloomberg News notes.
"Breaking the contracts would be a really bad signal," she added.
About Argentina
Argentina is a country located mostly in the southern half of South
America. Its capital is Buenos Aires. Javier Milei is the current
president of Argentina after winning the November 19, 2023 general
election. He succeeded Alberto Angel Fernandez in the position.
Argentina has the third largest economy in Latin America. The
country's economy is an upper middle-income economy for fiscal year
2019, according to the World Bank. Historically, however, its
economic performance has been very uneven, with high economic
growth alternating with severe recessions, income maldistribution
and in the recent decades, increasing poverty.
The IMF's executive board completed on August 23, 2023, the fifth
and six reviews of Argentina's 30-month Extended Fund Facility
(EFF), and approved a US$7.5-billion disbursement to Argentina as
part of the larger program, which refinances payments Argentina
owes the institution from a previous bailout that failed to
stabilize the economy in 2018. Argentina would receive another IMF
disbursement in November of about US$2.75 billion pending another
staff-level agreement and board approval.
S&P Global Ratings, on March 15, 2024, raised its local currency
sovereign credit ratings on Argentina to 'CCC/C' from 'SD/SD' and
its national scale rating to 'raB+' from 'SD'. S&P also raised its
long-term foreign currency sovereign credit rating to 'CCC' from
'CCC-' and affirmed its 'C' short-term foreign currency rating. The
outlook on the long-term ratings is stable. In addition, S&P
revised its transfer and convertibility assessment to 'CCC' from
'CCC-'.
S&P said the stable outlook on the long-term ratings balances the
risks posed by pronounced economic imbalances and policy
uncertainties with the favorable change in near-term debt service
obligations. S&P also expect no further debt exchanges that it
would likely consider to be distressed.
Fitch Ratings upgraded on June 13, 2023, Argentina's Long-Term
Foreign Currency (FC) Issuer Default Rating (IDR) to 'CC' from
'C'and affirmed the Long-Term Local Currency (LC) IDR at 'CCC-'.
Fitch typically does not assign Outlooks to sovereigns with a
rating of 'CCC+' or below.
The upgrade of the FC IDR reflects that Fitch no longer deems a
default-like process to have begun, as the authorities have not
signaled a clear intention to follow through with an intra-public
debt swap announced in March. The new 'CC' rating signals a default
event of some sort appears probable in the coming years, regardless
of the outcome of upcoming elections. The affirmation of the LC IDR
at 'CCC-' follows the peso debt swap in June that Fitch did not
deem to be a "distressed debt exchange" (DDE).
Moody's Investors Service, in September 2022, affirmed Argentina's
Ca foreign-currency and local-currency long-term issuer and senior
unsecured ratings. The outlook remains stable. The decision to
affirm the Ca ratings balances Argentina's limited market access,
weak governance, and history of recurrent debt restructurings with
recent efforts to marshal fiscal and monetary measures to start
addressing underlying macroeconomic imbalances in the context of
the IMF program that was approved in 2022, according to Moody's.
DBRS, Inc. confirmed Argentina's Long-Term Foreign Currency Issuer
Rating at CCC and downgraded its Long-Term Local Currency Issuer
Rating to CCC from CCC (high) on March 3, 2023.
ENTRE RIOS: S&P Affirms 'CCC' LT ICR, Alters Outlook to Neg
-----------------------------------------------------------
On May 9, 2024, S&P Global Ratings revised its outlook on the
Province of Entre Rios to negative from stable and affirmed its
'CCC' long-term issuer credit ratings on the province.
Outlook
The negative outlook reflects S&P's view of Entre Rios' fiscal
vulnerability and dependence upon favorable financial and economic
conditions to meet its financial obligations in the next 12 months.
While the 2020 debt restructuring improved the debt profile, the
province's weak fiscal performance and cash reserves, and limited
financing options increase uncertainty over its capacity to service
its debt.
Downside scenario
S&P said, "We could downgrade Entre Rios in the next 6-12 months if
the current fiscal stress continues to weaken the province's
liquidity, increasing the likelihood of a missed debt payment or of
a debt restructuring. In addition, we would consider a debt
exchange or restructuring as distressed and tantamount to a default
of an entity with such low ratings."
Upside scenario
S&P could raise the ratings on Entre Rios in the event of an
improved transfer and convertibility assessment of Argentina, which
currently caps the ratings on subnational governments, and if the
province stabilizes its fiscal results and strengthens its
liquidity to timely meet its debt obligations.
Rationale
The outlook revision to negative reflects the increasing risks to
the province's capacity to service debt in a timely manner, given
the deterioration of its finances. S&P revised downward its SACP of
Entre Rios to 'ccc' from 'b-', reflecting its view that the erosion
of its liquidity, along with its limited financing options, could
jeopardize its capacity and willingness to service its
international debt. Capital payments will be about US$130 million
annually in 2024-2028. The province hasn't tapped the domestic
capital market since the pandemic and has relied on short-term
financing to cover its long-term debt payments and payroll.
The fiscal performance to deteriorate further under the rigid
spending structure, despite a plunge in capital expenditure
(capex).
S&P expects the province's revenue to decrease in real terms in
2024 due to reduction in transfers and in own-source revenue.
National Congress approved in September 2023 a marked reduction in
personal income tax, which has translated into real contraction of
coparticipation transfers from the national government to the
provinces. Moreover, the national government is cutting
non-automatic transfers to the provinces as part of its efforts to
trim its fiscal deficit. A prolonged recession and caps on
provincial taxation are causing own-source revenue to shrink.
Moreover, the province's room to adjust expenditure is limited.
Payroll and pension spending account for 75% of the province's
total operating expenditure. Even though inflation dynamics have
given some flexibility to reduce real public-sector wages, most of
the civil servants have permanent contracts, which constrains the
province in reducing payroll.
Public investment will be the main channel for budgetary
adjustment. Capex cuts are already evident as of March 2024, and we
expect this trend to remain, with capex averaging 3% of total
spending in 2024-2026, down from the 6% average in 2021-2023.
S&P said, "As a result, our base-case scenario assumes an operating
deficit of 5.5% of operating revenue and a deficit after capex of
7.2% total revenue in 2024. Without offsetting the transfer losses
and given a limited space to contain expenditure, we expect fiscal
performance to continue eroding, resulting in an operating deficit
of 1% and after capex deficit of 3.6% by 2026."
Without structural reforms, its pension deficit has become more
burdensome over the years, eating up 12% of operating revenue in
2023, up from 8.7% in 2021. Despite the agreement with the national
government to co-finance the pension deficit, constant transfer
delays have intensified pressure on the province's finances.
Liquidity has deteriorated along with fiscal accounts. After the
February debt service payment, Entre Rios almost depleted the
liquidity reserve fund it established in 2022, given the fairly
decent post-pandemic fiscal recovery. The province has been relying
on short-term financing to meet its payroll and to roll over debt
payments on its international bond. Amid fiscal woes, relying on
short-term financing and the continued lack of debt market access
translate into a looming risk of default.
The lack of market access and the real appreciation of the
Argentine peso are driving the province's debt level down, despite
its large financing needs. S&P forecasts the debt burden to drop
below 30% of operating revenue by 2026 from 50% as of the end of
2023. Ninety five percent of its debt is denominated in U.S.
dollars, which makes it vulnerable to the peso's
faster-than-anticipated depreciation.
The macroeconomic stress, the lack of liquidity, and budget
rigidities reduce the room for maneuver.
The very stressed macroeconomic scenario, exacerbated by the fiscal
consolidation measures taken at the national level will derive in
an economic contraction of 3.5% in 2024. Entre Rios' GDP per capita
will be US$8,300 in 2024, below national level of US$12,150.
Inflationary pressures will remain in place this year, further
deteriorating socioeconomic profile of the provincial population.
A new administration took office in December 2023. Rogelio
Frigerio, from the Juntos por Entre Rios political party, won the
election, after two decades of Peronist administrations. After a
difficult transition, the new administration has been muddling
through the complex macroeconomic context by implementing some
emergency measures, but the room for maneuver is very limited amid
decreasing revenue, and no fiscal or liquidity buffers.
Negotiations between the governors and the national government on
the reversal of the income-tax reduction have taken longer than
expected, while the steep recession is dragging down revenues. The
approval of the fiscal package, currently discussed at the national
Senate, could relieve part of the stress, but provincial finances
will likely remain fragile this year.
The significant reduction of coparticipation funds, the cuts in the
non-automatic transfers (both without proper compensation), and
delays in the pension transfers reflect Argentina's very weak
institutional predictability and a volatile intergovernmental
system that has been subject to modifications to fiscal regulations
and inconsistency over the years. This jeopardized the subnational
governments' financial planning, weakening the credit quality.
In accordance with S&P's relevant policies and procedures, the
Rating Committee was composed of analysts that are qualified to
vote in the committee, with sufficient experience to convey the
appropriate level of knowledge and understanding of the methodology
applicable. At the onset of the committee, the chair confirmed that
the information provided to the Rating Committee by the primary
analyst had been distributed in a timely manner and was sufficient
for Committee members to make an informed decision.
After the primary analyst gave opening remarks and explained the
recommendation, the Committee discussed key rating factors and
critical issues in accordance with the relevant criteria.
Qualitative and quantitative risk factors were considered and
discussed, looking at track-record and forecasts.
The committee's assessment of the key rating factors is reflected
in the Ratings Score Snapshot above.
The chair ensured every voting member was given the opportunity to
articulate his/her opinion. The chair or designee reviewed the
draft report to ensure consistency with the Committee decision. The
views and the decision of the rating committee are summarized in
the above rationale and outlook. The weighting of all rating
factors is described in the methodology used in this rating
action.
Ratings List
RATINGS AFFIRMED
ENTRE RIOS (PROVINCE OF)
Senior Unsecured CCC
RATINGS AFFIRMED; CREDITWATCH/OUTLOOK ACTION
TO FROM
ENTRE RIOS (PROVINCE OF)
Issuer Credit Rating CCC/Negative/-- CCC/Stable/--
TELAM: Milei Government Shutters Provincial Outposts
----------------------------------------------------
Buenos Aires Times reports that Argentina's government has ordered
the closure of 13 provincial outposts from the state news agency
Telam, after suspending the company's activities in March in order
to audit operations.
In a communique issued by the company's trustee, Diego Martin
Chaher, and addressed to Telam employees and released to the press,
he called for the "execution of the operational closure of
correspondent" offices in 11 of the 23 provinces and the capital
where the state news agency operates, according to Buenos Aires
Times.
The offices affected are in the provinces of Chaco, Buenos Aires,
Entre Rios, La Pampa, Misiones, Rio Negro, Salta, Santa Fe,
Cordoba, Corrientes and Mendoza, the report notes.
The report relays that Presidential Spokesperson Manuel Adorni told
a press conference that "if the agency is closed because the
workers are on leave, it makes no sense to have correspondents in
the interior of the country."
"It is simply a question of common sense," he added, notes the
report.
On March 3, President Javier Milei's government had suspended
Telam's operations, excused its workers from their duties and
fenced off two of its offices in the capital, Buenos Aires, the
report discloses.
Milei has been a vocal critic of Argentina's state news agency,
describing the 78-year-old institution as an instrument "of
propaganda," the report says.
Since then, the agency's website has been taken down with a notice
saying "page under reconstruction," while a number of former
employees have opened up their own site: somostelam.com.ar, the
report notes.
The shuttering of the state news agency was accompanied by the
cancellation of all weekend news broadcasts and the suspension of
nearly all live programming across public television channels, the
report relays.
In addition, overtime and holiday pay has been cut at Radio
Nacional, Argentina's public radio station. Almost 50 stations
across the interior of the country had to cancel weekend
programming and rebroadcast programs from Buenos Aires.
A report by the Reporters Without Borders media watchdog said that
Argentina had dropped 26 places to 66th place in its global press
freedom ranking, Buenos Aires Times relays.
"The situation is particularly worrying in Argentina following the
arrival to power of President Javier Milei, whose aggressive stance
towards journalism hinders pluralism," the report said, Buenos
Aires Times discloses.
At the beginning of February, Milei's government had decreed that
Telam be placed under trusteeship for one year, the report notes.
The President intervened in the running of all state media in order
to "modify the organisational and functional structure" of the
bodies, the report relays.
The measure affected public radio and television, Telam, the
Educ.ar educational portal, the Audiovisual Production Centre and
the Argentine Audiovisual Bank of Universal Contents (BACUA), the
report adds.
===========================
C A Y M A N I S L A N D S
===========================
FTX TRADING: Eversheds & Morris Update Ad Hoc Committee Members
---------------------------------------------------------------
Eversheds Sutherland (US) LLP and Morris, Nichols, Arsht & Tunnell
LLP, counsel to the Ad Hoc Committee of Non-US Customers of FTX.com
(the "Ad Hoc Committee") comprising international customers, filed
a verified seventh supplemental statement pursuant to Rule 2019 of
the Federal Rules of Bankruptcy Procedure in the Chapter 11 cases
of FTX Trading Ltd. and affiliates.
Pursuant to Bankruptcy Rule 2019(d), this Seventh Supplemental
Statement supplements the information provided in the Sixth
Supplemental Statement. Since the date of the Sixth Supplemental
Statement, certain changes have been made with respect to the
composition of the Ad Hoc Committee and the disclosable economic
interests that the Members represent.
The revised names, addresses, and disclosable economic interests of
the Members are:
1. 168 Trading Limited
5-9 Main Street Gibraltar GX11 1AA
* $2,500,000.00
2. Adam Rabie
* $150,950.00
3. Altana Digital Assets Fund
190 Elgin Avenue
George Town, Grand Cayman,
KY1-9008 Cayman Islands
* $1,039,066.36
4. Azamat Akylov
* $11,373,198.56
5. B2C Alternative Equity Ltd
C/O Corporation Service Company
251 Little Falls Drive, Wilmington, DE 19808
* $85,000,000.00
6. Blooming Triumph International Limited
13F 162 Queens Road Central, Hong Kong
* $35,860,157.00
7. Blue Basin Ventures LLC
3172 N Rainbow Blvd #26642, Las Vegas, NV 89108
* $1,243,523.00
8. Boway Holdings, LLC; Oaktree Opportunities Fund XI
Holdings (Cayman) LP; Opps CY Holdings, LLC; Oaktree
Value Opportunities Fund Holdings, L.P.; Oaktree
Phoenix Investment Fund, L.P.
1301 6th Ave, 34th Floor, NY, NY 10019
* $354,809,100.00
9. Canyon Capital Advisors LLC, on behalf of its
managed funds and accounts
2728 N. Harwood Street, 2nd Floor,
Dallas, TX 75201
* $324,010,604.91
10. Ceratosaurus Investors, LLC
One Maritime Plaza, Suite 2100,
San Francisco, CA 94111
* $509,149,570.00
11. Chien-Chih Chen
* $200,000.00
12. Crimson International Investment
c/o Al-Hamad Legal Group
4812 Addax Tower, Al Reem
Island, Abu Dhabi UAE
* $6,091,963.14
13. Daniel Gupta
* $420,000.00
14. Decent Investments Malta Limited
Quad Central, Q3, Level 9, Triq LEsportaturi,
Zone 1, Central Business District, Birkirkara CBD
1040, Malta
* $4,231,241.93
15. Diameter Capital Partners LP
55 Hudson Yards, Suite 29B,
New York, NY 10001
* $207,462,138.26
16. Dietmar Poppe
* $281,807.90
17. Dmitry Kozlov
* $252,185.00
18. dParadigm Fund SPC
DE Cayman Ltd, Landmark Sqaure,
Westbay Road, PO Box 775, Grand Cayman KY1-9
* $575,599.93
19. Falcon Hybrid SPC - RE7 Liquidity Fund SP
3-212 Governors Square 23 Lime Tree Bay Ave
PO Box 30746 SMB Grand Cayman KY1-1203
Cayman Islands
* $1,269,016.63
20. FC Cayman A, L.L.C.
c/o Maples Corporate Services Limited
PO Box 309 Ugland House Grand Cayman, KY1-1104
Cayman Islands
* $518,308,980.22
21. Fire Bouvardia, L.L.C.
190 Elgin Avenue, George Town
Cayman DY1-9008
* $212,137,818.00
22. Fingolfin GmbH
c/o 3T.LAW
FAO Dr. Henning Frase
Oberlaender Ufer 154a
Koeln, Germany 50968
* $5,700,000.00
23. Flow Ventures Fund L.P.
5-9 Main Street, GX11 1AA
* $3,917,877.00
24. Grzegorz Swiatek
* $540,260.00
25. Hudson Bay Master Fund Ltd.
28 Havemeyer Place, 2nd Floor,
Greenwich, CT 06830
* $192,000,000
26. Iris Partners
Iris Partners Corp. Suites 5 & 6
Horsfords Business Centre Long Point Road
Charlestown St Kitts & Nevis
* $804,000.00
27. Ismael Lemhadri
* $150,000.00
28. Jamie Farquhar
* $1,987,327.00
29. James Goodenough
* $5,670.00
30. Jian Chen
* $1,200,000.00
31. John Ruskin
* $350,000.00
32. Jonathon Hughes
* $22,063.00
33. Kbit Global Limited
Craigmuir Chambers #71 Road Town
Tortola VG1110 British Virgin Islands
* $25,021,826.00
34. Kirk Steele
* $2,500,000.00
35. Koalalgo Research
CO SERVICES CAYMAN LIMITED
P. O. Box 10008 Willow House
Cricket Square Grand Cayman KY1-1001
Cayman Islands
* $3,700,000.00
36. Lemma Technologies Inc.
Via Espana, Delta Bank Building,
6th Floor, Suite 604D, Panama City
PA-8 Panama
* $165,000,000.00
37. Marc-Antoine Julliard
* $140,000.00
38. Marc St. John Wolff Amey
* $637,000.00
39. Michael Anderson
* $1,600,000.00
40. Michael Currie
* $40,000.00
41. Mohammad Alsabah
* $275,000.00
42. MVPQ Capital Limited
Kensington Pavilion, 96 Kensington
High St., London
* $902,266.00
43. Nestcoin Holding Limited
Trinity Chambers, PO Box 4301,
Road Town, Tortola, British Virgin Island
* $3,900,000.00
44. Nexxus Holdings Operations LLC
800 Miramonte Drive, Suite 380
Santa Barbara CA 93109
* $114,586,113.00
45. NKB Finance Ltd.
Griva Digeni 13, 6030 Larnaca, Cyprus
* $216.52
46. Olympus Peak Trade Claims Opportunities Fund I Non-
ECI MasterLP
177 West Putnam Ave Suite 2622- S1 Greenwich, CT 06831
* $20,028,055.00
47. Orange Phoenix LLC
c/o The Corporation Trust Center
1209 Orange Street, Wilmington DE 19801
* $4,695,822.68
48. Owen Ellis
* $957,000.00
49. Patrick Martin
* $500,000.00
50. Patrick Wohlschlegel
* $57,973.85
51. Phoenix Digital
c/o The Corporation Trust Center
1209 Orange Street, Wilmington DE 19801
* $12,169,928.00
52. Podtree Ltd.
26, Kanachrine Place,Ullapool, Highland, Scotland
* $19,581.26
53. PRIMO Holding GmbH
Urbanstrasse 4, D-70839 Gerlingen, Germany
* $853,674.48
54. Raul Jain
* $42,000.00
55. Robert Himmelbauer
* $107,013.57
56. Rodney Clough
* $504,000.00
57. Safe Eagle Holding Limited
Mandar House, 3rd Floor P.O. Box
2196, Johnson's Ghut Tortola, British Virgin Islands
* $3,200,000.00
58. Samuel Mandel
* $59,600.00
59. Sheval Alijevski
* $146,000.00
60. Sidar Sahin
* $50,974,281.00
61. Silver Point Capital, LP
2 Greenwich Plaza, Greenwich, CT 06830
* $270,488,930.00
62. Svalbard Holdings Limited
c/o Attestor Limited, 7 Seymour Street, W1H 7JW London
* $674,631,122.00
63. Tellurian Exoalpha Digital Assets Systematic Fund
89 Nexus Way, Camana Bay Grand
Cayman, Cayman Islands KY1-
* $1,062,047.90
64. Vicomte Holding LLC as manager of Arceau 507 II LLC,
Arceau 507
LLC, Arceau X LLC, Oroboros FTX I LLC
4 Lakeside Drive, Chobham Lakes,
GU24 8BD, Surrey, UK
* $29,077,752.28
65. William Johanna Petrus
Christina Arts
* $64,802.00
66. Wireless Mouse LLC
1509 Bent Ave. Cheyenne, WY 82001
* $6,978,628.21
67. Yu Ting
* $64,434.00
About FTX Group
FTX is the world's second-largest cryptocurrency firm. FTX is a
cryptocurrency exchange built by traders, for traders. FTX offers
innovative products including industry-first derivatives, options,
volatility products and leveraged tokens.
Then CEO and co-founder Sam Bankman-Fried said Nov. 10, 2022, that
FTX paused customer withdrawals after it was hit with roughly $5
billion worth of withdrawal requests.
Faced with liquidity issues, FTX on Nov. 9 struck a deal to sell
itself to its giant rival Binance, but Binance walked away from the
deal amid reports on FTX regarding mishandled customer funds and
alleged US agency investigations.
At 4:30 a.m. on Nov. 11, Bankman-Fried ultimately agreed to step
aside, and restructuring vet John J. Ray III was quickly named new
CEO.
FTX Trading Ltd (d/b/a FTX.com), West Realm Shires Services Inc.
(d/b/a FTX US), Alameda Research Ltd. and certain affiliated
companies then commenced Chapter 11 proceedings (Bankr. D. Del.
Lead Case No. 22-11068) on an emergency basis on Nov. 11, 2022.
Additional entities sought Chapter 11 protection on Nov. 14, 2022.
FTX Trading and its affiliates each listed $10 billion to $50
million in assets and liabilities, making FTX the biggest
bankruptcy filer in the US this year. According to Reuters, SBF
shared a document with investors on Nov. 10 showing FTX had $13.86
billion in liabilities and $14.6 billion in assets. However, only
$900 million of those assets were liquid, leading to the cash
crunch that ended with the company filing for bankruptcy.
The Hon. John T. Dorsey is the case judge.
The Debtors tapped Sullivan & Cromwell, LLP as bankruptcy counsel;
Landis Rath & Cobb, LLP as local counsel; and Alvarez & Marsal
North America, LLC as financial advisor. Kroll is the claims agent,
maintaining the page https://cases.ra.kroll.com/FTX/Home Index
The Official Committee of Unsecured Creditors tapped Paul Hastings
as counsel, FTI Consulting, Inc., as financial advisor, and
Jefferies LLC as the investment banker. Young Conaway Stargatt &
Taylor LLP is the Committee's Delaware and conflicts counsel.
Montgomery McCracken Walker & Rhoads LLP, led by partners Gregory
T. Donilon, Edward L. Schnitzer, and David M. Banker, is
representing Sam Bankman-Fried in the Chapter 11 cases. White
collar crime specialist Mark S. Cohen has reportedly been hired to
represent SBF in litigation. Lawyers at Paul Weiss previously
represented SBF but later renounced representing the entrepreneur
due to a conflict of interest.
===============
C O L O M B I A
===============
BANCO DE OCCIDENTE: Fitch Rates Tier 2 Subordinated Notes 'BB-'
----------------------------------------------------------------
Fitch Ratings has assigned a final 'BB-' rating to Banco de
Occidente, S.A.'s (Occidente) Tier 2 subordinated capital notes.
The amount of these notes is USD175 million at 10.875% due in 2034.
The notes offering type is RegS and the proceeds will be used for
general corporate purposes.
The final rating follows a review of the final terms and conditions
conforming to information already received when Fitch published the
expected rating on April 30, 2024. For more details, see "Fitch
Publishes Occidente's Proposed Subordinated Notes 'BB-(EXP)'
Expected Rating" at www.fitchratings.com.
KEY RATING DRIVERS
The 'BB-' rating for Occidente's Tier 2 subordinated capital notes
is two notches below its 'bb+' Viability Rating (VR), the anchor
rating, reflecting loss-severity.
According to Fitch's criteria, the two-notch adjustment for loss
severity reflects the issue's subordinated debt status and expected
poor recovery prospects in a liquidation event relative to the
bank's senior debt. The notes will rank subordinated to all senior
debt, pari passu to all other unsecured subordinated debt and
senior to junior deemed debt. Fitch believes the notes do not pose
an incremental risk for non-performance.
Occidente's Issuer Default Ratings (IDRs) are driven by its
intrinsic creditworthiness, reflected in its 'bb+' VR. The bank's
VR is one notch above its implied 'bb' due to the high influence of
Fitch's assessment of the bank's business profile. Fitch believes
that Occidente's consistent business model, which focuses on
less-riskier segments, allows the bank to generate modest but
consistent income, and defend asset quality amid a Colombian
sector-wide deterioration. The VR also considers Occidente's modest
profitability metrics and relatively tight capital ratios.
RATING SENSITIVITIES
Factors that Could, Individually or Collectively, Lead to Negative
Rating Action/Downgrade
- The rating of this issuance could be downgraded in the event of a
downgrade of Occidente's anchor rating.
Factors that Could, Individually or Collectively, Lead to Positive
Rating Action/Upgrade
- The rating of this issuance could be upgraded in the event of an
upgrade of Occidente's anchor rating, and at all times the notching
down will be maintained.
For further information on Occidente's rating rationale and
sensitivities please refer to latest press release "Fitch Affirms
Banco de Occidente and Subsidiaries; Outlook Stable" dated November
29, 2023.
DATE OF RELEVANT COMMITTEE
12 April 2024
ESG CONSIDERATIONS
The highest level of ESG credit relevance is a score of '3', unless
otherwise disclosed in this section. A score of '3' means ESG
issues are credit-neutral or have only a minimal credit impact on
the entity, either due to their nature or the way in which they are
being managed by the entity. Fitch's ESG Relevance Scores are not
inputs in the rating process; they are an observation on the
relevance and materiality of ESG factors in the rating decision.
Entity/Debt Rating Prior
----------- ------ -----
Banco de Occidente S.A.
Subordinated LT BB- New Rating BB-(EXP)
=============
J A M A I C A
=============
JAMAICA: BOJ Pumps US$30 Million Into Forex Market
--------------------------------------------------
RJR News reports that the Bank of Jamaica intervened in the foreign
currency market.
The central bank pumped US$30 million into the system, in a B-FXITT
flash sale, according to RJR News.
Eight banks and four cambios were successful in their bids, the
report notes.
The larger shares went to First Global Bank, Grace Kennedy Currency
Trading Services and Barita Investments, the report relays.
This is the second intervention since the start of the month, the
report discloses.
After intervention, the Jamaican dollar gained 9 cents against the
US currency, the report relays.
Trading ended with banks and cambios selling the American dollar
for an average $157.47, the report notes.
The Canadian dollar is being sold for $115.22, the report says.
The average value of the Pound is $195.54, while the Euro is going
for $171.71, the report adds.
About Jamaica
Jamaica is an island country situated in the Caribbean Sea.
Jamaica is an upper-middle income country with an economy heavily
dependent on tourism. Other major sectors of the Jamaican economy
include agriculture, mining, manufacturing, petroleum refining,
financial and insurance services.
In October 2023, Moody's upgraded the Government of Jamaica's
long-term issuer and senior unsecured ratings to B1 from B2, and
senior unsecured shelf rating to (P)B1 from (P)B2. The outlook has
been changed to positive from stable. The upgrade of Jamaica's
rating to B1 reflects the government's sustained commitment to
fiscal consolidation and debt reduction. The positive outlook
reflects Moody's assessment that a continuation of the favorable
fiscal trajectory will further increase Jamaica's credit
resilience.
S&P Global Ratings raised on September 13, 2023, its long-term
foreign and local currency sovereign credit ratings on Jamaica to
'BB-' from 'B+', and affirmed its short-term foreign and local
currency sovereign credit ratings at 'B'. The stable outlook
reflects S&P's expectation that the government will remain
committed to prudent fiscal policies and reducing debt, as well as
supportive economic policies including a flexible exchange rate
regime and effective monetary policy.
In March 2022, Fitch Ratings affirmed Jamaica's Long-Term Foreign
Currency Issuer Default Rating (IDR) at 'B+'. The Rating Outlook is
Stable.
=============
U R U G U A Y
=============
MERCADOLIBRE INC: Argentine Banks Files Suit for "Abusive Conduct"
------------------------------------------------------------------
Kevin Simauchi at Bloomberg News reports that Argentine banks filed
a legal complaint against MercadoLibre Inc for alleged "abusive
conduct" on its digital payments platform, ratcheting up more
pressure on the company after new Central Bank regulations imposed
key changes on the fintech sector.
MODO, a virtual wallet backed by some 30 Argentine banks, accused
the e-commerce giant of forcing consumers to fulfill online
purchases via its payment platform, Mercado Pago, among other
practices, according to MODO's statement regarding its formal
complaint before Argentina's National Commission for the Defence of
Competition, according to Bloomberg News.
"MercadoLibre's abusive conduct, detailed in the complaint, creates
negative effects for the market, disproportionately maximising its
earnings," MODO wrote in the statement, adding that it's confident
Argentine authorities will investigate "one or more
anti-competitive practices," forcing an "in-depth analysis of the
payments and digital wallet ecosystem," Bloomberg News notes.
MODO claims that 80 percent of e-commerce retail sales in Argentina
are done via Mercado Pago, Bloomberg News relays. While MODO
lauded the platform's technology and recognized its dominant
performance, it accused the company of distorting the competition,
Bloomberg News says.
A spokesman for Mercado Pago didn't immediately provide comment.
Founded in 1999, the parent company MercadoLibre is now Latin
America's second-most valuable publicly listed company with a
market capitalisation of US$84 billion, Bloomberg News relays.
Across the region, it recorded 49 million monthly active users for
its fintech platform, Bloomberg News notes.
MercadoLibre's share price rose 1.4 percentto US$1,654 after
posting earnings that surpassed analysts' expectations, Bloomberg
News says.
MODO's filing comes after Argentina's central bank mandated on
April 30 that merchants who display QR codes in stores to scan and
pay must accept that consumers can make digital purchases from any
bank or service provider -- a move that would force MercadoLibre's
hand in opening up its payment network, Bloomberg News relays.
The Montevideo, Uruguay-based company is still negotiating with
banks and other digital payment networks on the terms of opening up
its QR payment system to third-party operators, Osvaldo Gimenez,
president of the MercadoLibre's fintech unit, said during an
earnings call with analysts on May 2, Bloomberg News notes.
"We need to agree on commercial terms with the counterparties,
which are likely to be banks and other wallets, and we are in that
process," he added.
===============
X X X X X X X X
===============
[*] BOND PRICING: For the Week May 6 to May 10, 2024
----------------------------------------------------
Issuer Name Cpn Price Maturity
Cntry Curr
---------- --- ----- --------
----- ----
Aeropuerto de Tocumen 4.0 70.9 8/11/2041 PA USD
Aeropuerto de Tocumen 5.1 69.7 8/11/2061 PA USD
Aeropuerto de Tocumen 5.1 69.7 8/11/2061 PA USD
Aeropuerto de Tocumen 4.0 70.3 8/11/2041 PA USD
AES Tiete Energia SA 6.8 0.7 4/15/2024 BR BRL
Agile Group Holdings 5.8 16.3 1/2/2025 KY USD
Agile Group Holdings 6.1 13.4 10/13/2025 KY USD
Agile Group Holdings 5.5 13.0 5/17/2026 KY USD
Agile Group Holdings 7.9 3.3 KY USD
Agile Group Holdings 5.5 15.0 4/21/2025 KY USD
Agile Group Holdings 7.8 3.3 KY USD
Alfa Desarrollo SpA 4.6 74.5 9/27/2051 CL USD
Alfa Desarrollo SpA 4.6 74.7 9/27/2051 CL USD
Alibaba Group Holding 3.2 65.4 2/9/2051 KY USD
Alibaba Group Holding 2.7 68.6 2/9/2041 KY USD
Alibaba Group Holding 3.3 62.9 2/9/2061 KY USD
AMTD IDEA Group 1.5 7.5 KY USD
AMTD IDEA Group 4.5 55.3 KY SGD
Amwaj 6.4 71.6 KY USD
Amwaj 4.5 50.9 KY USD
Argentina Bonar Bonds 1.0 43.7 7/9/2029 AR USD
Argentina Treasury Dual 3.3 45.8 4/30/2024 AR USD
Argentine Bonos del Tesoro 15.5 40.3 10/17/2026 AR ARS
Argentine Gov't Int'l Bond 1.0 47.5 7/9/2029 AR USD
Argentine Gov't Int'l Bond 0.5 41.9 7/9/2029 AR EUR
Argentine Gov't Int'l Bond 0.1 42.5 7/9/2030 AR EUR
Ascent Finance 1.2 61.0 7/12/2047 KY EUR
Ascent Finance 3.4 66.6 2/6/2043 KY AUD
Ascent Finance 3.8 67.9 6/28/2047 KY AUD
Astra Cumulative 2019 1.5 62.1 11/1/2029 KY USD
At Home Cayman 11.5 69.3 5/12/2028 KY USD
At Home Cayman 11.5 70.6 5/12/2028 KY USD
AYC Finance 3.9 63.2 KY USD
Banco Davivienda SA 6.7 65.8 CO USD
Banco Davivienda SA 6.7 70.3 CO USD
Banco de Chile 2.7 75.1 3/9/2035 CL AUD
Banco del Estado de Chile 3.1 71.2 2/21/2040 CL AUD
Banco del Estado de Chile 2.8 67.7 3/13/2040 CL AUD
Banco Nacional de Panama 2.5 75.4 8/11/2030 PA USD
Banco Nacional de Panama 2.5 75.2 8/11/2030 PA USD
Banco Santander Chile 3.1 71.2 2/28/2039 CL AUD
Banco Santander Chile 1.3 73.9 11/29/2034 CL EUR
Banda de Couro Energetica 8.0 55.1 1/15/2027 BR BRL
Baraunas II Energetica S/A 8.0 12.5 1/15/2027 BR BRL
Bishopsgate Asset Finance 4.8 66.9 8/14/2044 KY GBP
Bolivian Gov'tInt'l Bond 4.5 58.3 3/20/2028 BO USD
Bolivian Gov'tInt'l Bond 7.5 59.4 3/2/2030 BO USD
Bolivian Gov'tInt'l Bond 4.5 58.5 3/20/2028 BO USD
Bolivian Gov'tInt'l Bond 7.5 59.5 3/2/2030 BO USD
Bonos Para La Reconstruccion 5.0 63.6 10/31/2027 AR USD
Bonos Para La Reconstruccion 3.0 60.5 5/31/2026 AR USD
Bonos Para La Reconstruccion 5.0 51.9 10/31/2027 AR USD
Brazilian Gov't Int'l Bond 4.8 74.1 1/14/2050 BR USD
BRF SA 5.8 78.1 9/21/2050 BR USD
BRF SA 5.8 78.1 9/21/2050 BR USD
Caja de Compensacion 2.4 49.6 4/5/2025 CL CLP
Camposol SA 6.0 72.3 2/3/2027 PE USD
Camposol SA 6.0 72.6 2/3/2027 PE USD
CFLD Cayman Investment 2.5 3.4 1/31/2031 KY USD
CFLD Cayman Investment 2.5 3.4 1/31/2031 KY USD
CFLD Cayman Investment 2.5 2.9 1/31/2031 KY USD
CFLD Cayman Investment 2.5 3.8 1/31/2031 KY USD
CFLD Cayman Investment 2.5 2.2 1/31/2031 KY USD
CFLD Cayman Investment 2.5 3.5 1/31/2031 KY USD
CFLD Cayman Investment 2.5 2.9 1/31/2031 KY USD
CFLD Cayman Investment 2.5 3.5 1/31/2031 KY USD
CFLD Cayman Investment 2.5 2.2 1/31/2031 KY USD
Chile Gov'tInt'l Bond 3.5 72.7 1/25/2050 CL USD
Chile Gov'tInt'l Bond 3.1 73.6 5/7/2041 CL USD
Chile Gov'tInt'l Bond 3.1 62.8 1/22/2061 CL USD
Chile Gov'tInt'l Bond 3.5 72.3 4/15/2053 CL USD
Chile Gov'tInt'l Bond 1.3 67.4 1/29/2040 CL EUR
Chile Gov'tInt'l Bond 1.3 54.0 1/22/2051 CL EUR
Chile Gov'tInt'l Bond 3.3 62.9 9/21/2071 CL USD
Chile Gov'tInt'l Bond 1.3 74.4 7/26/2036 CL EUR
China Yuhua Education Corp 0.9 65.1 12/27/2024 KY HKD
CK HutchisonInt'l 19 II 3.4 74.4 9/6/2049 KY USD
CK HutchisonInt'l 19 II 3.4 74.4 9/6/2049 KY USD
CK HutchisonInt'l 20 3.4 74.1 5/8/2050 KY USD
CK HutchisonInt'l 20 3.4 74.1 5/8/2050 KY USD
Colombia Gov't Int'l Bond 4.1 61.2 5/15/2051 CO USD
Colombia Gov't Int'l Bond 3.9 57.2 2/15/2061 CO USD
Colombia Gov't Int'l Bond 5.2 72.4 5/15/2049 CO USD
Colombia Gov't Int'l Bond 4.1 66.7 2/22/2042 CO USD
Colombia Gov't Int'l Bond 7.3 71.1 10/26/2050 CO COP
Colombia Gov't Int'l Bond 6.3 73.3 7/9/2036 CO COP
Colombia Gov't Int'l Bond 7.3 71.1 10/26/2050 CO COP
Colombia Gov't Int'l Bond 5.0 71.6 6/15/2045 CO USD
Colombia Gov't Int'l Bond 6.3 73.3 7/9/2036 CO COP
Colombia Telecomunicaciones 5.0 67.5 7/17/2030 CO USD
Colombia Telecomunicaciones 5.0 67.5 7/17/2030 CO USD
Colombian TES 7.3 70.9 10/26/2050 CO COP
Colombian TES 6.3 73.1 7/9/2036 CO COP
Coopeucha 4.6 38.3 6/1/2029 CL CLP
CODELCO 3.7 67.4 1/30/2050 CL USD
CODELCO 3.2 61.0 1/15/2051 CL USD
CODELCO 3.7 67.3 1/30/2050 CL USD
CODELCO 3.2 61.0 1/15/2051 CL USD
CODELCO 3.6 74.7 7/22/2039 CL AUD
Earls Eight 0.1 64.5 12/20/2031 KY AUD
Earls Eight 1.7 72.4 6/20/2032 KY AUD
Ecopetrol SA 5.9 73.6 5/28/2045 CO USD
Ecopetrol SA 5.9 70.5 11/2/2051 CO USD
El Salvador Gov'tInt'l Bond 7.1 68.3 1/20/2050 SV USD
El Salvador Gov'tInt'l Bond 7.6 72.0 9/21/2034 SV USD
El Salvador Gov'tInt'l Bond 7.6 72.8 2/1/2041 SV USD
El Salvador Gov'tInt'l Bond 5.9 65.1 1/30/2025 SV USD
El Salvador Gov'tInt'l Bond 7.6 72.6 9/21/2034 SV USD
El Salvador Gov'tInt'l Bond 7.1 68.4 1/20/2050 SV USD
El Salvador Gov'tInt'l Bond 7.6 72.9 2/1/2041 SV USD
Embotelladora Andina SA 6.5 23.2 6/1/2026 CL CLP
EFE 3.8 65.7 9/14/2061 CL USD
EFE 3.1 59.8 8/18/2050 CL USD
EFE 3.1 59.8 8/18/2050 CL USD
EFE 3.8 65.8 9/14/2061 CL USD
EFE 6.5 11.1 1/1/2026 CL CLP
ETESA 5.1 71.5 5/2/2049 PA USD
ETESA 5.1 72.2 5/2/2049 PA USD
Metro SA 3.7 65.1 9/13/2061 CL USD
Metro SA 3.7 65.0 9/13/2061 CL USD
Metro SA 5.5 50.1 7/15/2027 CL CLP
Metro SA 5.0 63.8 5/11/2025 AR USD
ENAP 4.5 73.2 9/14/2047 CL USD
ENAP 4.5 73.2 9/14/2047 CL USD
ENA Master Trust 4.0 70.5 5/19/2048 PA USD
ENA Master Trust 4.0 70.9 5/19/2048 PA USD
Enel Generacion Chile SA 6.2 29.2 10/15/2028 CL CLP
Equatorial Energia 10.9 1.1 10/15/2029 BR BRL
Equatorial Energia 10.8 1.0 5/15/2028 BR BRL
Esval SA 3.5 13.1 2/15/2026 CL CLP
Farfetch 3.8 4.3 5/1/2027 KY USD
Fospar S/A 6.5 1.4 5/15/2026 BR BRL
GDM Argentina SA 2.5 0.0 9/8/2024 AR USD
GDS Holdings 4.5 67.7 1/31/2030 KY USD
Generacion Mediterranea SA 4.6 0.0 11/12/2024 AR ARS
General Shopping Finance 10.0 66.2 KY USD
General Shopping Finance 10.0 65.0 KY USD
Genneia SA 2.0 56.9 7/14/2028 AR USD
Greenland Hong Kong 10.2 13.4 KY USD
Guacolda Energia SA 4.6 70.5 4/30/2025 CL USD
Guacolda Energia SA 10.0 70.1 12/30/2030 CL USD
Guacolda Energia SA 4.6 71.8 4/30/2025 CL USD
Guacolda Energia SA 10.0 70.1 12/30/2030 CL USD
Hector A Bertone SA 1.9 0.0 4/7/2024 AR USD
Hilong Holding 9.8 68.7 11/18/2024 KY USD
Hilong Holding 9.8 69.7 11/18/2024 KY USD
Hilong Holding 9.8 69.4 11/18/2024 KY USD
Multiplo SA 3.3 59.5 BR USD
Itau Unibanco SA/Nassau 5.8 20.2 5/20/2027 BR BRL
Jamaica Gov't Bond 6.3 67.8 7/11/2048 JM JMD
Jamaica Gov't Bond 8.5 73.0 12/21/2061 JM JMD
Lani Finance 1.7 63.5 3/14/2049 KY EUR
Lani Finance 1.9 66.9 10/19/2048 KY EUR
Lani Finance 3.1 66.1 10/19/2048 KY AUD
Lani Finance 1.9 65.8 9/20/2048 KY EUR
Link Finance Cayman 2009 2.2 70.0 10/27/2038 KY HKD
LIPSA Srl 1.0 0.0 8/23/2024 AR USD
Logan Group Co 7.0 5.1 KY USD
Longfor Group Holdings 4.0 43.3 9/16/2029 KY USD
Longfor Group Holdings 3.4 56.1 4/13/2027 KY USD
Longfor Group Holdings 3.9 38.4 1/13/2032 KY USD
Longfor Group Holdings 4.5 53.1 1/16/2028 KY USD
Luminis III 2.3 41.8 9/22/2048 KY USD
Luminis III 2.4 55.3 9/22/2048 KY AUD
Luminis IV 3.2 70.4 1/22/2042 KY AUD
Luminis 2.3 54.8 9/22/2048 KY AUD
Lunar Funding I 1.7 8/11/2056 KY GBP
MTR Corp CI 2.8 73.3 9/6/2047 KY HKD
MTR Corp CI 3.0 73.1 3/11/2051 KY HKD
MTR Corp CI 3.0 75.4 4/26/2047 KY HKD
MTR Corp CI 3.2 73.7 2/5/2055 KY HKD
MTR Corp CI 3.0 73.1 3/11/2051 KY HKD
NIO Inc 4.6 73.1 10/15/2030 KY USD
Panama Gov'tInt'l Bond 4.5 63.1 4/1/2056 PA USD
Panama Gov'tInt'l Bond 2.3 70.2 9/29/2032 PA USD
Panama Gov'tInt'l Bond 3.9 55.8 7/23/2060 PA USD
Panama Gov'tInt'l Bond 4.5 64.9 4/16/2050 PA USD
Panama Gov'tInt'l Bond 4.5 62.0 1/19/2063 PA USD
Panama Gov'tInt'l Bond 4.5 66.6 5/15/2047 PA USD
Panama Gov'tInt'l Bond 4.3 62.6 4/29/2053 PA USD
Peruvian Gov'tInt'l Bond 3.6 71.8 3/10/2051 PE USD
Peruvian Gov'tInt'l Bond 2.8 57.3 12/1/2060 PE USD
Peruvian Gov'tInt'l Bond 3.2 57.3 7/28/2121 PE USD
Peruvian Gov'tInt'l Bond 3.6 65.7 1/15/2072 PE USD
Peruvian Gov'tInt'l Bond 3.3 74.3 3/11/2041 PE USD
Petroleos del Peru SA 5.6 68.3 6/19/2047 PE USD
Petroleos del Peru SA 5.6 68.3 6/19/2047 PE USD
Powerlong Real Estate 6.3 10.3 8/10/2024 KY USD
Provincia de Cordoba 7.1 39.6 10/27/2026 AR USD
Provincia de la Rioja 7.5 45.9 7/20/2032 AR USD
Provincia de la Rioja 4.5 51.8 1/20/2027 AR USD
Chaco Argentina 4.0 0.0 12/4/2026 AR USD
QNB Finance 13.5 63.1 10/6/2025 KY TRY
QNB Finance 11.5 71.7 1/30/2025 KY TRY
QNB Finance 2.9 74.2 9/16/2035 KY AUD
QNB Finance 2.9 72.9 12/4/2035 KY AUD
QNB Finance 3.0 75.4 2/14/2035 KY AUD
QNB Finance 3.4 72.0 10/21/2039 KY AUD
Radiance Holdings Group 7.8 49.6 3/20/2024 KY USD
Rio Alto Energias Renovaveis 7.0 29.1 7/15/2027 BR BRL
Santander Consumer Chile SA 2.9 72.7 11/27/2034 CL AUD
Seazen Group 6.0 75.2 8/12/2024 KY USD
Seazen Group 4.5 34.1 7/13/2025 KY USD
Shui On Development Holding 5.5 61.2 6/29/2026 KY USD
Shui On Development Holding 5.5 73.0 3/3/2025 KY USD
Silk Road Investments 2.9 66.8 1/23/2042 KY AUD
Skylark 1.8 59.0 4/4/2039 KY GBP
Autopista Central 5.3 37.2 12/15/2026 CL CLP
Autopista Central 5.3 50.6 12/15/2028 CL CLP
SQM 3.5 65.5 9/10/2051 CL USD
SQM 3.5 65.5 9/10/2051 CL USD
Southern Water Service 3.0 70.8 5/28/2037 KY GBP
SPE Saneamento RIO 1 7.2 10.8 1/15/2042 BR BRL
SPE Saneamento RIO 1 SA 6.9 10.5 1/15/2034 BR BRL
SPE Saneamento Rio 4 SA 7.2 10.2 1/15/2042 BR BRL
SPE Saneamento Rio 4 SA 6.9 10.2 1/15/2034 BR BRL
Spica 2.0 74.9 3/24/2033 KY AUD
Spirit Loyalty Cayman 8.0 72.2 9/20/2025 KY USD
Spirit Loyalty Cayman 8.0 73.0 9/20/2025 KY USD
Spirit Loyalty Cayman 8.0 70.3 9/20/2025 KY USD
Spirit Loyalty Cayman 8.0 72.5 9/20/2025 KY USD
Sylph 2.7 68.5 3/25/2036 KY USD
Sylph 3.1 74.7 9/25/2035 KY USD
Sylph 2.4 64.2 9/25/2036 KY USD
Sylph 2.9 74.5 6/24/2036 KY AUD
Telecom Argentina SA 1.0 74.0 3/9/2027 AR USD
Telecom Argentina SA 1.0 66.1 2/10/2028 AR USD
Telefonica Moviles Chile SA 3.5 74.4 11/18/2031 CL USD
Telefonica Moviles Chile SA 3.5 74.4 11/18/2031 CL USD
Tencent Holdings 3.2 67.9 6/3/2050 KY USD
Tencent Holdings 3.3 64.0 6/3/2060 KY USD
Tencent Holdings 3.9 73.9 4/22/2061 KY USD
Tencent Holdings 3.8 75.4 4/22/2051 KY USD
Tencent Holdings 3.2 67.6 6/3/2050 KY USD
Tencent Holdings 3.9 73.9 4/22/2061 KY USD
Tencent Holdings 3.3 64.1 6/3/2060 KY USD
Three Gorges Finance 3.2 71.6 10/16/2049 KY USD
Grupo Travessia 9.0 1.6 1/20/2032 BR BRL
Volcan Cia Minera SAA 4.4 62.2 2/11/2026 PE USD
Volcan Cia Minera SAA 4.4 62.0 2/11/2026 PE USD
VTR Comunicaciones SpA 5.1 61.6 1/15/2028 CL USD
VTR Comunicaciones SpA 4.4 60.8 4/15/2029 CL USD
VTR Comunicaciones SpA 5.1 61.9 1/15/2028 CL USD
VTR Comunicaciones SpA 4.4 60.6 4/15/2029 CL USD
YPF SA 7.0 72.6 12/15/2047 AR USD
YPF SA 1.0 66.8 4/25/2027 AR USD
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S U B S C R I P T I O N I N F O R M A T I O N
Troubled Company Reporter-Latin America is a daily newsletter
co-published by Bankruptcy Creditors' Service, Inc., Fairless
Hills, Pennsylvania, USA, and Beard Group, Inc., Washington, D.C.,
USA, Marites O. Claro, Joy A. Agravante, Rousel Elaine T.
Fernandez, Julie Anne L. Toledo, Ivy B. Magdadaro, and Peter A.
Chapman, Editors.
Copyright 2024. All rights reserved. ISSN 1529-2746.
This material is copyrighted and any commercial use, resale or
publication in any form (including e-mail forwarding, electronic
re-mailing and photocopying) is strictly prohibited without prior
written permission of the publishers.
Information contained herein is obtained from sources believed to
be reliable, but is not guaranteed.
The TCR Latin America subscription rate is US$775 per half-year,
delivered via e-mail. Additional e-mail subscriptions for members
of the same firm for the term of the initial subscription or
balance thereof are US$25 each. For subscription information,
contact Peter A. Chapman at 215-945-7000.
.
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