Jim Harper

Mexico’s Record Foreclosures Impeding Home Ownership: Mortgages

Arturo Sandoval, a 25-year-old homeowner in one of Mexico’s low-income developments outside the capital, commutes two hours each way to his job at a Mexico City soap factory.

Homex Out of Prison With Billionaire Slim’s 20-Cent Gift

Carlos Slim, the world’s richest man, is giving a lifeline to Mexican homebuilder Desarrolladora Homex SAB.

Homex Bonds, Stocks Soar as Slim to Buy Company’s Prisons

Desarrolladora Homex SAB, the Mexican homebuilder seeking to avoid a debt restructuring, agreed to sell its stake in two prisons to companies controlled by billionaire Carlos Slim. Homex’s bonds and stock surged.

JPMorgan Says Sell Defaulted Vitro Debt on Overvalued Offer: Mexico Credit

Vitro SAB’s defaulted bonds are rallying to a two-month high, a sign to JPMorgan Chase & Co. and BCP Securities LLC to sell the securities because the price overvalues the Mexican glassmaker’s latest debt-restructuring offer by almost 50 percent.

Repsol's YPF Unit Preparing First Bond Issue Since 1998: Argentina Credit

YPF SA, Argentina’s biggest oil producer by market value, plans to return to global markets for the first time in 12 years with the sale of up to $600 million of bonds as the company aims to expand at home and abroad.

Defaulted Vitro Bonds Rally to 23-Month High as Creditors Bet on New Offer

Vitro SAB’s defaulted bonds have climbed to a 23-month high on speculation Mexico’s biggest glassmaker will sweeten an offer to restructure $1.2 billion in debt that was rejected by creditors last month.

Petrobras Unit Debt Proves Too Cheap to Resist: Argentina Credit

Petrobras Argentina SA’s dollar bonds, beaten up on concern the government would block debt payments, now look irresistible trading at the biggest discount to its Brazilian parent since June.

Repsol May Consider Shale Asset Swap as YPF Compensation

Repsol SA said it may consider shale assets as part of compensation for the expropriation of its stake in YPF SA after an agreement on the amount to be paid is reached with Argentina.

Vitro Says Pact With Hedge Funds Ends Duel Over 2009 Default

Vitro SAB, Mexico’s largest glassmaker, said it agreed to a settlement with U.S. creditors including hedge fund manager Paul Singer, ending a legal battle over debt from the company’s $1.2 billion bond default in 2009.

Vitro to Vote $1.9 Billion of Loans to Win Debt Offer (Correct)

Vitro SAB, the Mexican glassmaker that defaulted on $1.2 billion of bonds last year, plans to ensure creditors approve a debt-restructuring offer by voting $1.9 billion of its intercompany loans in favor of the deal.

"You would think that there would be a temptation to follow the same path."

- Jim Harper on Apr 22, 2013

New York

Connecticut

Mexico

Argentina

Voter Proof-of-Citizenship Law Voided by Supreme Court

U.S. Stocks Rise as Investors Await Fed Policy Meeting

Stocks Rise as Yen Falls Before FOMC; Natural Gas Soars

Vale Sees China Slowdown Blunted by Brazil Real Depreciation

Sushi Aid in $1 Trillion U.S. Farm Bill Irks Watchdogs