Interest rates topping 11 percent and collateral made up of aging vessels including a pair of almost 30-year-old tug boats helped lure investors to Oceanografia SA’s sale of $335 million of bonds in 2008.
Employers in the U.S. probably took on more workers in February than a month earlier, indicating companies were becoming more confident the economy will rebound from a slowdown partly attributed to bad weather, economists forecast a Labor Department report to show.
Mexico posted a surprise trade deficit in January, the widest since October 2008, as exports fell, signaling that the economy is struggling to rebound from the lowest growth in four years. The peso extended its decline.
Grupo Bimbo SAB’s latest acquisition to expand in North America is heightening analysts’ concern that the world’s biggest bread maker’s debt is at a high level at a time profit is still being pinched by recent purchases.
Grupo Bimbo SAB, the world’s largest bread maker, agreed to acquire Maple Leaf Foods Inc.’s Canadian baked-goods business for about C$1.83 billion ($1.66 billion) to further expand outside of its home market in Mexico.
Concern that Grupo Financiero BBVA Bancomer SA may turn over cash to its Spanish parent has sparked a sell-off in the lender’s bonds that’s making them attractive to ING Groep NV and Aberdeen Asset Management Plc.
Mexico is having the slowest year for domestic corporate bond sales since 2004, spurring underwriters including Citigroup Inc. , Banco Santander SA and BBVA Bancomer SA to slash fees in a “war” for fewer deals.