/raid1/www/Hosts/bankrupt/TCRLA_Public/160829.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, August 29, 2016, Vol. 17, No. 170
Headlines
B R A Z I L
BRAZIL: Supporters of President Rousseff Insist She Broke No Laws
C A Y M A N I S L A N D S
BOYER ALLAN: Shareholders' Final Meeting Set for Sept. 5
CYGNET LTD: Members' Final Meeting Set for Sept. 6
NEUBERGER BERMAN: Shareholders' Final Meeting Set for Sept. 6
NEUBERGER MASTER: Shareholders' Final Meeting Set for Sept. 6
PANTEL LTD: Shareholders' Final Meeting Set for Sept. 6
PEMBRIDGE HOUSE: Shareholders' Final Meeting Set for Oct. 17
D O M I N I C A N R E P U B L I C
* DOMINICAN REPUBLIC: Grows 7.4% in 1Q, Paced by Construction
G R E N A D A
GRENADA TODAY: Prime Minister Loses in Court Again
M E X I C O
MEXICO: Cuts 2016 GDP Forecast After Second-Quarter Decline
P U E R T O R I C O
BINTANG LLC: Seeks to Hire Lajara Radinson as Legal Counsel
V E N E Z U E L A
VENEZUELA: Ordered to Pay More Than $1.2BB to Rusoro Mining
X X X X X X X X X
* BOND PRICING: For the Week From Aug. 22 to Aug. 26, 2016
- - - - -
===========
B R A Z I L
===========
BRAZIL: Supporters of President Rousseff Insist She Broke No Laws
-----------------------------------------------------------------
Agence France-Presse reports that the final witnesses in the
defense of suspended Brazilian president Dilma Rousseff have
testified in her senate impeachment trial, days before a vote that
could permanently remove her from power.
President Rousseff, 68, is accused of taking illegal state loans
to help bridge budget shortfalls and mask the true state of the
economy during her 2014 reelection campaign, according to Agence
France-Presse.
The one-time Marxist guerrilla, who was imprisoned and tortured
under Brazil's military dictatorship in the 1970s, says the
charges against her are trumped up and amount to a right-wing
coup, the report notes.
Testifying on the third day of the impeachment trial were former
economy minister Nelson Barbosa and Rio State University law
professor Ricardo Lodi, the report notes.
Both testified that President Rousseff -- suspended from office in
May -- did not break the law or harm the economy, which is now in
deep recession, the report relays.
"There is no basis to say that the president is criminally
responsible," the report quoted Mr. Barbosa as saying.
Mr. Barbosa insisted that decrees that Rousseff issued at the time
were fully constitutional, the report relays.
"There is nothing remotely illegal," Mr. Barbosa said, notes the
report. "You cannot act retroactively with a new interpretation
of the law," he added.
The same argument was delivered by a first batch of witnesses
testifying on President Rousseff's behalf who said that such
budget maneuvers have long been common practice, and that Brazil's
economic decline was entirely unrelated, the report notes.
President Rousseff to Testify
President Rousseff's accusers laid out their case on the trial's
opening day, arguing that she was criminally irresponsible and
helped run once booming Brazil into the ground, the report
discloses.
Brazil's economy shrank 3.8 percent in 2015 and is forecast to
drop a further 3.3 percent this year, a historic recession, the
report relays. Inflation stands at around nine percent and
unemployment at 11 percent.
Tension is building ahead when President Rousseff, from the
leftist Workers' Party, will take the stand for the first time and
face her accusers, the report says.
She will be accompanied by her mentor and predecessor in the
presidency, Luiz Inacio Lula da Silva, the report notes.
Mr. Lula rose from poverty to found the Workers' Party and become
one of Brazil's most popular presidents ever before helping
President Rousseff take his place.
The once all-powerful pair are now demonized by the right, blamed
for Brazil's economic shambles and tainted by the revelation of a
gigantic corruption scheme at state oil giant Petrobras which
peaked during the Lula presidency, the report says.
Lula's presence and President Rousseff's allegations of a plot to
destroy 13 years of Workers' Party rule will make for a charged
atmosphere in the deeply divided Senate where a shouting match
broke out, forcing the session to be suspended, the report says.
Final arguments will follow Rousseff's testimony, then the voting
session, which will include speeches by each senator, with the
final result expected soon, the report notes.
Two thirds or 54 out of the 81 senators must vote for impeachment
to force Rousseff's immediate removal, the report discloses. The
latest estimates by opposition senators and major Brazilian
newspapers is that the pro-impeachment side is on track to win,
the report adds.
Acting president Michel Temer -- Rousseff's former vice president
turned bitter enemy -- would then be sworn in to occupy the post
until 2018 elections, the report notes.
Since taking over the temporary job, Temer has installed a new
center-right cabinet with a market-friendly message, the report
notes.
As reported in the Troubled Company Reporter-Latin America on
March 29, 2016, severe contraction that was preceded by several
years of below-trend growth has impaired Brazil's (Ba2 negative)
underlying economic strength, despite the country's large and
diversified economy, says Moody's Investors Service. The
country's credit rating is also coming under pressure from the
government's high level of mandatory spending.
==========================
C A Y M A N I S L A N D S
==========================
BOYER ALLAN: Shareholders' Final Meeting Set for Sept. 5
--------------------------------------------------------
The shareholders of Boyer Allan Holding Company Limited will hold
their final meeting on Sept. 5, 2016, at 9:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.
The company's liquidator is:
Intertrust Trustees (Cayman) Limited
c/o Kim Charaman
190 Elgin Avenue, George Town
Grand Cayman KY1-9005
Cayman Islands
Telephone: (345) 943-3100
CYGNET LTD: Members' Final Meeting Set for Sept. 6
--------------------------------------------------
The members of Cygnet Ltd. will hold their final meeting on
Sept. 6, 2016, at 12:17 p.m., to receive the liquidator's report
on the company's wind-up proceedings and property disposal.
The company's liquidator is:
Susan Lo Yee Har
Level 54, Hopewell Centre
183 Queen's Road East
Hong Kong
c/o Desmond Chisholm
Telephone: (345) 814 5469
Facsimile: (345) 949 8080
NEUBERGER BERMAN: Shareholders' Final Meeting Set for Sept. 6
-------------------------------------------------------------
The shareholders of Neuberger Berman Commodities Fund I Ltd. will
hold their final meeting on Sept. 6, 2016, at 9:00 a.m., to
receive the liquidator's report on the company's wind-up
proceedings and property disposal.
The company's liquidator is:
Richard Fear
c/o Ryan Charles
P.O. Box 2681 Grand Cayman KY1-1111
Cayman Islands
Telephone: (345) 814 7364
Facsimile: (345) 945 3902
NEUBERGER MASTER: Shareholders' Final Meeting Set for Sept. 6
-------------------------------------------------------------
The shareholders of Neuberger Berman Commodities Master Fund I
Ltd. will hold their final meeting on Sept. 6, 2016, at 9:00 a.m.,
to receive the liquidator's report on the company's wind-up
proceedings and property disposal.
The company's liquidator is:
Richard Fear
c/o Ryan Charles
P.O. Box 2681 Grand Cayman KY1-1111
Cayman Islands
Telephone: (345) 814 7364
Facsimile: (345) 945 3902
PANTEL LTD: Shareholders' Final Meeting Set for Sept. 6
-------------------------------------------------------
The shareholders of Pantel Ltd. will hold their final meeting on
Sept. 6, 2016, at 12:15 p.m., to receive the liquidator's report
on the company's wind-up proceedings and property disposal.
The company's liquidator is:
Susan Lo Yee Har
Level 54, Hopewell Centre
183 Queen's Road East
Hong Kong
c/o Desmond Chisholm
Telephone: (345) 814 5469
Facsimile: (345) 949 8080
PEMBRIDGE HOUSE: Shareholders' Final Meeting Set for Oct. 17
------------------------------------------------------------
The shareholders of Pembridge House Ltd. will hold their final
meeting on Oct. 17, 2016, at 9:00 a.m., to receive the
liquidator's report on the company's wind-up proceedings and
property disposal.
The company's liquidator is:
Matthew Wright
c/o Omar Grant
Regatta Office Park
P.O. Box 897 Windward 1
Grand Cayman KY1-1103
Cayman Islands
Telephone: (345) 949-7576
Facsimile: (345) 949-8295
===================================
D O M I N I C A N R E P U B L I C
===================================
* DOMINICAN REPUBLIC: Grows 7.4% in 1Q, Paced by Construction
-------------------------------------------------------------
Dominican Today reports that Dominican Republic's economy grew
7.4%, in the first half measured in terms of gross domestic
product (GDP), the Central Bank affirmed.
It said construction grew 17.7%, and has paced all sectors during
12 consecutive quarters, followed by; Mining (25.1%), Financial
intermediation (11.0%), Health (9.5%), Agriculture (8.0%), other
service activities (7.2%), education (7.0%), retail (6.2%), Local
Manufacturing ( 6.0%), Transport (5.1%) and Hotels, Bars and
Restaurants (4.9%), according to Dominican Today.
Among the sectors which posted a decline figure free zone
manufacturing, at -0.6%, a sharp downturn compared with its 5.8%
growth in the same period in 2015, the report notes.
In an emailed statement, the Central Bank said the labor market's
behavior is the result of economy's dynamism. "The results of the
National Workforce Survey (ENFT) for April 2016 show that 173,402
jobs were created in the 12 months from April 2015 to April 2016,
for an average monthly of approximately 14,450 new employees in
that period," it said, notes the report.
It said the 436,912 jobs created from October 2012 to April 2016
lowered the open unemployment rate from 6.0% in April 2015 to 5.7%
in April 2016. "Similarly, the broad unemployment stood at 13.3%
in April 2016, proving to be the lowest in the last two decades,"
the report relays.
"The financial system continues to strengthen, showing adequate
indicators of capital sufficiency, asset quality, profitability
and liquidity," with which it could face potential internal or
external shocks. "The total assets of the financial sector posted
a growth of 11.0%," says the Central Bank, the report relays.
"Moreover, commercial banks June 2016 posted a solvency level of
15.6% and 17.1% for all financial intermediaries, well above the
10% set by the Monetary and Financial Law. The return on average
equity of the total financial system was 15.6%, on assets of 1.8%
and NPL of 1.7%, while in the case of commercial banks the return
on equity was 18.9%, 1.9% on assets and 1.7% delinquency during
that period," it added, notes the report.
As reported in the Troubled Company Reporter-Latin America on
July 1, 2016, Moody's Investors Service has changed the outlook on
the Dominican Republic's long term issuer and debt ratings to
positive from stable. The ratings have been affirmed at B1.
=============
G R E N A D A
=============
GRENADA TODAY: Prime Minister Loses in Court Again
--------------------------------------------------
The Daily Observer reports that the Eastern Caribbean Supreme
Court has again ruled against Grenada's Prime Minister Dr. Keith
Mitchell in a civil action against the liquidator of the Grenada
Today newspaper. In 2014, Dr. Mitchell lost an earlier bid before
the high court in Grenada to have local chartered certified
accountant Garvey Louison removed as liquidator of the newspaper,
according to The Daily Observer.
In the latest ruling, the Master, Justice Agnes Actie, ordered:
1. The application to grant leave to commence the claim against
the third named defendant (Grenada Today Limited (by its
liquidator Garvey Louison)) is refused;
2. The claim form against the third named defendant is struck
out;
3. Summary judgment is granted in favour of the third named
defendant on the counterclaim;
4. The refusal of leave to proceed against the third named
defendant will not stop the proceedings against the other
defendants. Accordingly the claim shall be listed for
further case management directions; and
5. Costs to the liquidator of third named defendant in the sum
of EC$1,500.
Grenada Today was put into liquidation in 2009 as a result of two
charges of criminal libel brought against the managing editor,
George Worme, in connection with a letter published by the
newspaper accusing Dr. Mitchell of bribing voters in the 1999
general election, The Daily Observer recalls.
Mr. Louison was appointed as liquidator and, on January 16, 2014,
Dr. Mitchell applied to the court for Mr. Louison's removal and
replacement as liquidator of the company, the report notes. The
application was refused with costs in the sum of EC$2,000 to the
liquidator, the report says.
On September 24, 2015, Mitchell instituted a new claim against the
defendants on the ground that to date they have failed or
neglected and or refused to make payment of the judgment debt, the
report discloses.
The liquidator applied to the Court for summary judgment and
striking out of the claim on the ground that Dr. Mitchell failed
to obtained leave to commence an action against the company in
liquidation, the report says. The liquidator also objected to the
filing of a fresh action on the ground that Dr. Mitchell has
failed to satisfy the court's orders of costs in previous
proceedings amounting to EC$3,500, the report notes.
Dr. Mitchell applied to the court for retrospective leave to
commence his action.
The court held that, in accordance with the Companies Act, leave
is required to commence or continue proceedings against a company
in liquidation, the report notes. The purpose and function of
this requirement is to prevent a company in liquidation from being
exposed to a multitude of actions that could be expensive and time
consuming at the expense of the creditors of the company, the
report discloses.
Case law has established that the claim against a company in
liquidation cannot proceed until the leave of the court is
obtained, the report relays.
The court also observed that the granting of leave is a judicial
discretion that requires the court to consider several factors
when deciding whether or not to grant leave, the report notes.
Mr. Louison objected to the granting of leave to Dr. Mitchell on
the ground that he is no stranger to the liquidation proceeding as
it was Dr. Mitchell's application made in 2009 that resulted in
the winding up of the company.
In dismissing the claim, the court held that Mitchell had not met
the evidential burden necessary to convince the court to grant
leave in retrospect, the report notes. Thus the claim against the
liquidator was struck out with costs granted in the sum of
EC$1,500, the report adds.
===========
M E X I C O
===========
MEXICO: Cuts 2016 GDP Forecast After Second-Quarter Decline
-----------------------------------------------------------
Eric Martin and Nacha Cattan at Bloomberg News report that Mexico
cut its growth forecast for the second time this year after Latin
America's second-largest economy shrank last quarter, dragged down
by a slowdown in the services industry and falling exports.
Gross domestic product will grow 2 percent to 2.6 percent in 2016,
down from a previous estimate of 2.2 percent to 3.2 percent,
deputy Finance Minister Fernando Aportela said at a news
conference in Mexico City, according to Bloomberg News. The
government also narrowed its deficit forecast for the broadest
budget measure to 3 percent from 3.5 percent, largely due to a
surplus it received from the central bank, Bloomberg News relays.
Earlier, the report recalls, the nation's statistics institute
said GDP shrank 0.2 percent in the second quarter from the start
of the year. While that's smaller drop than a preliminary estimate
last month, it's the first contraction since 2013, says the
report. From the previous year, GDP climbed 2.5 percent.
While Aportela said the contraction is probably due in part to
difficulty estimating the seasonal effect of the Easter Holiday,
which fell in the first quarter, Mexico has been hit by a slump in
exports to the U.S., as well as falling oil prices and production
that forced the government to cut spending, Bloomberg News relays.
A slower expansion in domestic demand that had been the main
source of growth for previous quarters further weighed on the
economy, Bloomberg News says.
"The big story is this two-speed economy," the report quoted
Rafael de la Fuente, the chief Latin America economist at UBS AG
in New York, as saying. "Clearly the industrial sector was weak in
the second quarter, and that was true not only of the oil sector
but manufacturing as well. Then you have the service sector and
consumption doing better; they too lost some momentum, but that
momentum is still relatively strong."
Peso, Banxico
The peso fell 0.4 percent to 18.2962 per dollar at 1:43 p.m. on
Aug. 22 in Mexico City, briefly extending its decline after the
growth forecast cut, Bloomberg News says. The currency has
weakened 6 percent this year after the Federal Reserve raised its
key rate in December, plunging oil prices reduced the revenue
available to fund government outlays and global risks increased,
Bloomberg News notes.
Growth from a year earlier was led by farming output, which
climbed 3.8 percent, while services expanded 3.2 percent.
Industrial activity grew 1.0 percent, Bloomberg News discloses.
The pace of annual expansion compared with 2.4 percent in the
first quarter, Bloomberg News says. Economic growth will slow
this year to 2.3 percent from 2.5 percent in 2015, according to
the median estimate of analysts surveyed by Bloomberg, after a
slumping peso forced the central bank to raise the key interest
rate one percentage point this year to 4.25 percent to head off a
pick-up in inflation from higher import costs.
According to Bloomberg News, the central bank left the key rate on
hold earlier this month, saying that the peso's rebound from a
record low in June is helping to curb inflation risks amid a
weaker growth outlook.
Falling output at state-owned oil producer Petroleos Mexicanos has
been one of the main drags on the economy, Bloomberg News relays.
The company extended more than three years of losses in the second
quarter as a cash injection from the government failed to overcome
the pinch of record-low crude output, refinery upsets and a
petrochemical plant explosion, Bloomberg News discloses. The
company's exploration was crimped by a reduction in its spending
in the first quarter, Bloomberg News adds.
======================
P U E R T O R I C O
======================
BINTANG LLC: Seeks to Hire Lajara Radinson as Legal Counsel
-----------------------------------------------------------
Bintang LLC seeks approval from the U.S. Bankruptcy Court for the
District of Puerto Rico to hire Lajara Radinson & Alicea, PSC.
Lajara Radinson will serve as the Debtor's legal counsel in
connection with its Chapter 11 case. The firm's professionals and
their hourly rates are:
Diomedes Lajara Radinson $200
Valery Alicea Caceres $200
Paralegals $90
In a court filing, Mr. Radinson disclosed that the members of his
firm are "disinterested persons" as defined in section 101(14) of
the Bankruptcy Code.
The firm can be reached through:
Diomedes Lajara Radinson, Esq.
Valery Alicea Caceres, Esq.
1303 Americo Miranda Avenue
Caparra Terrace
San Juan, PR 00921-2109
Tel: (787) 781-6767
Fax: (787) 774-9324
About Bintang LLC
Bintang LLC sought protection under Chapter 11 of the Bankruptcy
Code (Bankr. D. P.R. Case No. 16-06414) on August 12, 2016.
=================
V E N E Z U E L A
=================
VENEZUELA: Ordered to Pay More Than $1.2BB to Rusoro Mining
-----------------------------------------------------------
Craig Wong at The Canadian Press reports that an international
arbitration tribunal has ordered Venezuela to pay a Vancouver-
based mining company more than US$1.2 billion (CAD1.5 billion) for
expropriating its gold mines.
Venezuela took over Rusoro Mining's investments in the country as
part of a nationalization of the gold industry in 2011, according
to The Canadian Press.
Rusoro Mining Ltd. said the money is due immediately and it
expects that Venezuela will comply with its international
obligations, the report notes.
Company Director Gordon Keep said Rusoro Mining was pleased with
the decision and looked forward to talking with the Venezuelan
government, the report relays.
"I'm quite certain there will be a conversation," the report
quoted Mr. Keep as saying. . . . "Whether or not it will be a
short or a long one, I have no idea," Mr. Keep added.
Rusoro Mining will face challenges in getting paid as Venezuela
withdrew from the World Bank-affiliated arbitration body in 2012.
It also isn't the only Canadian mining company looking to collect
a large award by the arbitration panel from Venezuela, the report
relays.
Crystallex International Corp., which has been operating under the
federal Companies' Creditors Arrangement Act since December 2011,
was awarded US$1.2 billion in damages plus interest earlier this
year in connection with unfair treatment and expropriation of its
Las Cristinas mining project in Venezuela, the report says.
However, Mr. Keep noted that Gold Reserve Inc., a mining firm
headquartered in Spokane, Wash., was able to reach a settlement
with Venezuela regarding the seizure of its Brisas gold and copper
project in 2008, the report notes.
Gold Reserve announced a deal earlier this month that will see
Venezuela pay nearly US$770 million in two installments plus
acquire the company's technical mining data for US$240 million,
payable in four installments, the report discloses. The first
payments under that agreement are due Oct. 31.
Rusoro Mining had two gold mines as well as other development
projects in the country, then under the leadership of Hugo Chavez,
who died in 2013, the report notes.
The company attempted for several months to negotiate compensation
without success before it filed a US$3.03-billion claim against
Venezuela at the World Bank's International Centre for Settlement
of Investment Disputes in 2012, the report relays.
The arbitration tribunal ordered Venezuela to pay $967.77 million
as of the September 2011 expropriation, plus interest as well as
US$3.3 million for Rusoro's costs in the arbitration, the report
adds.
As reported in the Troubled Company Reporter-Latin America on
July 5, 2016, Fitch Ratings affirmed Venezuela's Long-Term
Foreign-and Local-Currency Issuer Default Ratings (LT FC/LC IDR)
at 'CCC'. Fitch has also affirmed the sovereign's Short-Term
Foreign Currency (ST FC) IDR at 'C' and country ceiling at 'CCC'.
=================
X X X X X X X X X
=================
* BOND PRICING: For the Week From Aug. 22 to Aug. 26, 2016
----------------------------------------------------------
Issuer Name Cpn Price Maturity Country Curr
----------- --- ----- -------- ------- ---
Andino Investment Holding 11 70.85 11/13/2020 PE USD
Andino Investment Holding 11 68.88 11/13/2020 PE USD
Anton Oilfield Services G 7.5 69.03 11/6/2018 CN USD
Anton Oilfield Services G 7.5 66 11/6/2018 CN USD
BA-CA Finance Cayman 2 Lt 0.719 38.5 KY EUR
BA-CA Finance Cayman Ltd 0.749 38.93 KY EUR
Banco do Brasil SA/Cayman 6.25 62.84 KY USD
Banco do Brasil SA/Cayman 6.25 59.51 KY USD
BPI Capital Finance Ltd 2.29 40 KY EUR
CA La Electricidad de Car 8.5 43.75 4/10/2018 VE USD
Chile Government Internat 3.625 15.7 10/30/2042 CL USD
CSN Islands XI Corp 6.875 61.25 9/21/2019 KY USD
CSN Islands XI Corp 6.875 61.13 9/21/2019 KY USD
CSN Islands XII Corp 7 48.8 BR USD
CSN Islands XII Corp 7 47.75 BR USD
Decimo Primer Fideicomiso 4.54 59.75 10/25/2041 PA USD
Decimo Primer Fideicomiso 6 71.38 10/25/2041 PA USD
Ecuador Government Domest 8.45 70.8 2/6/2034 EC USD
Ecuador Government Domest 8.45 69.35 9/10/2034 EC USD
Ecuador Government Domest 8.45 70.42 4/2/2034 EC USD
Ecuador Government Domest 8.45 69.72 7/17/2034 EC USD
Ecuador Government Domest 8.45 69.71 5/30/2034 EC USD
Ecuador Government Domest 8.45 69.23 9/30/2034 EC USD
Ecuador Government Domest 8.45 70.52 3/19/2034 EC USD
Ecuador Government Domest 7.75 74.84 12/19/2028 EC USD
Ecuador Government Domest 8.45 69.94 6/12/2034 EC USD
Ecuador Government Domest 8.45 69.95 6/11/2034 EC USD
Ecuador Government Domest 8.45 69.82 7/1/2034 EC USD
Ecuador Government Domest 7.7 73.56 7/1/2029 EC USD
Ecuador Government Domest 7.7 72.94 9/10/2029 EC USD
Ecuador Government Domest 7.75 74.95 11/8/2028 EC USD
Ecuador Government Domest 7.7 73.74 6/11/2029 EC USD
Ecuador Government Domest 7.7 73.73 6/12/2029 EC USD
Ecuador Government Domest 7.7 72.77 9/30/2029 EC USD
Empresa de Telecomunicaci 7 71.24 1/17/2023 CO COP
Empresa de Telecomunicaci 7 71.24 1/17/2023 CO COP
ESFG International Ltd 5.753 0.883 KY EUR
General Exploration Partn 11.5 36.75 11/13/2018 CA USD
General Shopping Finance 10 60.55 KY USD
General Shopping Finance 10 60.63 KY USD
Global A&T Electronics Lt 10 70.88 2/1/2019 SG USD
Global A&T Electronics Lt 10 71.88 2/1/2019 SG USD
Global A&T Electronics Lt 10 50.5 2/1/2019 SG USD
Global A&T Electronics Lt 10 54 2/1/2019 SG USD
Glorious Property Holding 13.25 74.56 3/4/2018 HK USD
Gol Finance Inc 9.25 47.35 7/20/2020 BR USD
Gol Finance Inc 8.75 37.75 BR USD
Gol Finance Inc 7.5 61 4/3/2017 BR USD
Gol Finance Inc 7.5 59.38 4/3/2017 BR USD
Gol Finance Inc 7.5 59.38 4/3/2017 BR USD
Gol Finance Inc 9.25 43.38 7/20/2020 BR USD
Gol Finance Inc 8.75 36.88 BR USD
Green Dragon Gas Ltd 10 63.75 11/20/2017 HK USD
Greenfields Petroleum Cor 9 11.35 5/31/2017 US CAD
Honghua Group Ltd 7.45 58.25 9/25/2019 CN USD
Honghua Group Ltd 7.45 58 9/25/2019 CN USD
Inversora Electrica de Bu 6.5 59.5 9/26/2017 AR USD
MIE Holdings Corp 7.5 67.25 4/25/2019 HK USD
MIE Holdings Corp 7.5 68.58 4/25/2019 HK USD
NB Finance Ltd/Cayman Isl 3.38 60.22 2/7/2035 KY EUR
Newland International Pro 9.5 24.13 7/3/2017 PA USD
Newland International Pro 9.5 25.13 7/3/2017 PA USD
Noble Holding Internation 6.2 65.42 8/1/2040 KY USD
Noble Holding Internation 6.05 66.38 3/1/2041 KY USD
Noble Holding Internation 5.25 64.71 3/15/2042 KY USD
Ocean Rig UDW Inc 7.25 57.75 4/1/2019 CY USD
Ocean Rig UDW Inc 7.25 55 4/1/2019 CY USD
Odebrecht Drilling Norbe 6.35 27 6/30/2021 KY USD
Odebrecht Drilling Norbe 6.35 28.5 6/30/2021 KY USD
Odebrecht Finance Ltd 7.5 40 KY USD
Odebrecht Finance Ltd 4.375 37.23 4/25/2025 KY USD
Odebrecht Finance Ltd 7.125 33.5 6/26/2042 KY USD
Odebrecht Finance Ltd 5.25 34.5 6/27/2029 KY USD
Odebrecht Finance Ltd 5.125 36 6/26/2022 KY USD
Odebrecht Finance Ltd 8.25 35 4/25/2018 KY BRL
Odebrecht Finance Ltd 7 53.5 4/21/2020 KY USD
Odebrecht Finance Ltd 6 41.51 4/5/2023 KY USD
Odebrecht Finance Ltd 5.25 36 6/27/2029 KY USD
Odebrecht Finance Ltd 4.375 36 4/25/2025 KY USD
Odebrecht Finance Ltd 7.125 33.75 6/26/2042 KY USD
Odebrecht Finance Ltd 7.5 42.5 KY USD
Odebrecht Finance Ltd 8.25 35 4/25/2018 KY BRL
Odebrecht Finance Ltd 5.125 35.38 6/26/2022 KY USD
Odebrecht Finance Ltd 6 38.88 4/5/2023 KY USD
Odebrecht Finance Ltd 7 44 4/21/2020 KY USD
Odebrecht Offshore Drilli 6.75 17 10/1/2022 KY USD
Odebrecht Offshore Drilli 6.625 17 10/1/2022 KY USD
Odebrecht Offshore Drilli 6.75 17.38 10/1/2022 KY USD
Odebrecht Offshore Drilli 6.625 17.38 10/1/2022 KY USD
Petroleos de Venezuela SA 5.25 67.5 4/12/2017 VE USD
Petroleos de Venezuela SA 12.75 56.1 2/17/2022 VE USD
Petroleos de Venezuela SA 9 49.38 11/17/2021 VE USD
Petroleos de Venezuela SA 9.75 44.57 5/17/2035 VE USD
Petroleos de Venezuela SA 6 38.5 5/16/2024 VE USD
Petroleos de Venezuela SA 6 36.75 11/15/2026 VE USD
Petroleos de Venezuela SA 5.375 37 4/12/2027 VE USD
Petroleos de Venezuela SA 5.5 36.75 4/12/2037 VE USD
Petroleos de Venezuela SA 6 32.13 10/28/2022 VE USD
Petroleos de Venezuela SA 6 36.4 11/15/2026 VE USD
Petroleos de Venezuela SA 6 35.35 5/16/2024 VE USD
Petroleos de Venezuela SA 9.75 41.7 5/17/2035 VE USD
Petroleos de Venezuela SA 9 45.25 11/17/2021 VE USD
Petroleos de Venezuela SA 12.75 46.15 2/17/2022 VE USD
Polarcus Ltd 5.6 44.93 3/30/2022 AE USD
Provincia de Rio Negro 1.6148 62 5/4/2024 AR ARS
PSOS Finance Ltd 11.75 60.13 4/23/2018 KY USD
Republic of Ecuador Minis 8.45 69.22 9/30/2034 EC USD
Republic of Ecuador Minis 7.75 74.88 12/19/2028 EC USD
Republic of Ecuador Minis 7.7 73.6 7/1/2029 EC USD
Republic of Ecuador Minis 7.75 74.99 11/8/2028 EC USD
Republic of Ecuador Minis 8.45 69.22 9/30/2034 EC USD
Republic of Ecuador Minis 7.7 73.77 6/12/2029 EC USD
Republic of Ecuador Minis 8.45 69.39 9/10/2034 EC USD
Republic of Ecuador Minis 8.45 69.75 7/17/2034 EC USD
Republic of Ecuador Minis 8.45 69.39 9/10/2034 EC USD
Republic of Ecuador Minis 7.7 72.81 9/30/2029 EC USD
Republic of Ecuador Minis 7.7 73.78 6/11/2029 EC USD
Republic of Ecuador Minis 7.7 73.6 7/1/2029 EC USD
Republic of Ecuador Minis 8.45 69.98 6/11/2034 EC USD
Republic of Ecuador Minis 8.45 69.98 6/11/2034 EC USD
Republic of Ecuador Minis 7.7 73.77 6/12/2029 EC USD
Republic of Ecuador Minis 7.7 72.99 9/10/2029 EC USD
Republic of Ecuador Minis 8.45 69.97 6/12/2034 EC USD
Republic of Ecuador Minis 7.75 74.88 12/19/2028 EC USD
Republic of Ecuador Minis 8.45 70.84 2/6/2034 EC USD
Republic of Ecuador Minis 8.45 70.55 3/19/2034 EC USD
Republic of Ecuador Minis 8.45 69.85 7/1/2034 EC USD
Republic of Ecuador Minis 8.45 70.45 4/2/2034 EC USD
Republic of Ecuador Minis 7.7 72.81 9/30/2029 EC USD
Republic of Ecuador Minis 8.45 69.75 7/17/2034 EC USD
Republic of Ecuador Minis 8.45 69.74 5/30/2034 EC USD
Republic of Ecuador Minis 8.45 69.97 6/12/2034 EC USD
Republic of Ecuador Minis 7.75 74.99 11/8/2028 EC USD
Republic of Ecuador Minis 8.45 69.85 7/1/2034 EC USD
Republic of Ecuador Minis 8.45 70.45 4/2/2034 EC USD
Republic of Ecuador Minis 8.45 69.74 5/30/2034 EC USD
Republic of Ecuador Minis 7.7 73.78 6/11/2029 EC USD
Republic of Ecuador Minis 8.45 70.84 2/6/2034 EC USD
Republic of Ecuador Minis 7.7 72.99 9/10/2029 EC USD
Republic of Ecuador Minis 8.45 70.55 3/19/2034 EC USD
Samarco Mineracao SA 4.125 37.25 11/1/2022 BR USD
Samarco Mineracao SA 5.75 36.6 10/24/2023 BR USD
Samarco Mineracao SA 5.375 35.38 9/26/2024 BR USD
Samarco Mineracao SA 4.125 37.38 11/1/2022 BR USD
Samarco Mineracao SA 5.75 39.63 10/24/2023 BR USD
Samarco Mineracao SA 5.375 37.25 9/26/2024 BR USD
Siem Offshore Inc 5.69 52.25 1/30/2018 NO NOK
Siem Offshore Inc 5.49 51.75 3/28/2019 NO NOK
Transocean Inc 5.05 74.75 10/15/2022 KY USD
Transocean Inc 6.8 63.66 3/15/2038 KY USD
Transocean Inc 7.5 65.78 4/15/2031 KY USD
Transocean Inc 9.1 70.41 12/15/2041 KY USD
Transocean Inc 7.45 74.9 4/15/2027 KY USD
Transocean Inc 8 73.55 4/15/2027 KY USD
Uruguay Notas del Tesoro 5.25 61.99 12/29/2021 UY UYU
US Capital Funding IV Ltd 0.99305 43.92 12/1/2039 KY USD
US Capital Funding IV Ltd 0.99305 43.92 12/1/2039 KY USD
Venezuela Government Inte 9.25 49.03 9/15/2027 VE USD
Venezuela Government Inte 11.75 49.5 10/21/2026 VE USD
Venezuela Government Inte 11.95 49.5 8/5/2031 VE USD
Venezuela Government Inte 7.75 47.38 10/13/2019 VE USD
Venezuela Government Inte 13.625 65.25 8/15/2018 VE USD
Venezuela Government Inte 9.375 45.85 1/13/2034 VE USD
Venezuela Government Inte 7 52.85 12/1/2018 VE USD
Venezuela Government Inte 7 42 3/31/2038 VE USD
Venezuela Government Inte 9 45.5 5/7/2023 VE USD
Venezuela Government Inte 9.25 45.5 5/7/2028 VE USD
Venezuela Government Inte 8.25 44.38 10/13/2024 VE USD
Venezuela Government Inte 6 43.5 12/9/2020 VE USD
Venezuela Government Inte 13.625 56.5 8/15/2018 VE USD
Venezuela Government Inte 7.65 43.25 4/21/2025 VE USD
Venezuela Government Inte 13.625 59.69 8/15/2018 VE USD
Venezuela Government Inte 12.75 53.5 8/23/2022 VE USD
Venezuela Government TICC 5.25 53.23 3/21/2019 VE USD
VRG Linhas Aereas SA 10.75 25.63 2/12/2023 BR USD
VRG Linhas Aereas SA 10.75 25.63 2/12/2023 BR USD
XLIT Ltd 6.5 70 IE USD
***********
Monday's edition of the TCR-LA delivers a list of indicative
prices for bond issues that reportedly trade well below par.
Prices are obtained by TCR-LA editors from a variety of outside
sources during the prior week we think are reliable. Those
sources may not, however, be complete or accurate. The Monday
Bond Pricing table is compiled on the Friday prior to publication.
Prices reported are not intended to reflect actual trades. Prices
for actual trades are probably different. Our objective is to
share information, not make markets in publicly traded securities.
Nothing in the TCR-LA constitutes an offer or solicitation to buy
or sell any security of any kind. It is likely that some entity
affiliated with a TCR-LA editor holds some position in the
issuers' public debt and equity securities about which we report.
Tuesday's edition of the TCR-LA features a list of companies with
insolvent balance sheets obtained by our editors based on the
latest balance sheets publicly available a day prior to
publication. At first glance, this list may look like the
definitive compilation of stocks that are ideal to sell short.
Don't be fooled. Assets, for example, reported at historical cost
net of depreciation may understate the true value of a firm's
assets. A company may establish reserves on its balance sheet for
liabilities that may never materialize. The prices at which
equity securities trade in public market are determined by more
than a balance sheet solvency test.
Submissions about insolvency-related conferences are encouraged.
Send announcements to conferences@bankrupt.com
***********
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, Valerie U. Pascual, Julie Anne L. Toledo, and Peter A.
Chapman, Editors.
Copyright 2016. 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 or Nina Novak at
202-362-8552.
* * * End of Transmission * * *