/raid1/www/Hosts/bankrupt/TCRLA_Public/241125.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, November 25, 2024, Vol. 25, No. 236
Headlines
A R G E N T I N A
ARGENTINA: Consumer Prices Rose 107% in First 10 Months of 2024
ARGENTINA: World Bank Forecasts 5% GDP Growth in 2025
GAUCHO GROUP: Files for Chapter 11 Bankruptcy in Florida
B E R M U D A
SEADRILL LIMITED: Q3 2024 Operating Revenues Drops 6% to $354M
B R A Z I L
BRAZIL: Economic Turmoil Hits Farms, 20.5% Surge in Bankruptcy
GOL LINHAS: Expects to Exit Chapter 11 in April 2025, Says CEO
UNIGEL GROUP: Ch. 15 Nod For $810M Restructuring Sought
C A Y M A N I S L A N D S
BUSINESS FINANCE: Creditors' Meeting Set Dec. 5
X X X X X X X X
[*] BOND PRICING: For the Week from Nov. 18 to 22, 2024
- - - - -
=================
A R G E N T I N A
=================
ARGENTINA: Consumer Prices Rose 107% in First 10 Months of 2024
----------------------------------------------------------------
Buenos Aires Times reports that Argentina's 2.7 percent inflation
last month -- the lowest monthly rate since November 2021 -- means
that consumer prices have increased 107 percent in the first 10
months of the year and by 193 percent over the last 12 months,
according to official data.
Inflation decelerated from September's 3.5 percent, reported the
INDEC national statistics bureau, the report notes.
Last month's figure is a third of the inflation recorded in October
2023 (8.3 percent), and the lowest for the month since 2017, the
report recalls.
However, critics say the deceleration of inflation has come at the
cost of consumption, the report notes. Argentina is in a deep
recession, with GDP expected to contract 3.5 percent this year.
Poverty affects more than half the population, according to
government data, the report discloses.
Looking ahead to November, most private consultancy firms predict a
rate of between 2.8 percent and 3.2 percent, though government
officials are hoping for a further deceleration, the report relays.
According to the latest Relevamiento de Expectativa de Mercado
(REM) survey, published monthly by Argentina's Central Bank, a
slight rebound is expected in December (3.2 percent), followed by a
staggered decline: three percent in January, 2.8 percent in
February, and 2.8 percent in March, the report relates.
"The gap [between the official dollar and the parallel dollar] is
at a historic low from the last five years; the economy is
recovering. There has never been a better moment than this,"
declared Economy Minister Luis Caputo in a speech, the report
discloses.
Buenos Aires Times relays that October's price hikes were led by a
5.4 percent surge in housing, water, electricity, gas and other
fuels, mainly due to increases in rent and related expenses. It
was followed by clothing and footwear (4.4 percent) and restaurants
and hotels (4.3 percent), which peaked in Greater Buenos Aires and
the northwest of the country. Healthcare, education, alcoholic
drinks and tobacco all increased by more than three percent over
the month. At the other end of the scale, bucking the normal trend,
was transport and food and non-alcoholic beverages (both 1.2
percent), the report discloses.
Breaking down the measurements, core inflation stood at 2.9
percent, regulated prices at 2.7 percent and seasonal prices
increased 1.4 percent over the same period, the report relates.
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.
In March 2022, the International Monetary Fund (IMF) approved a
new
30-month arrangement under an Extended Fund Facility for Argentina
in the amount of SDR 31.914 billion (equivalent to US$44 billion,
or 1000 percent of quota). The IMF Executive Board's decision
allowed the authorities an immediate disbursement of an equivalent
of US$9.65 billion in March 2022.
Argentina's IMF-supported program seeks to improve public finances
and start to reduce persistent high inflation through a
multi-pronged strategy, involving a gradual elimination of
monetary
financing of the fiscal deficit and enhancements in the monetary
policy framework.
In June 2024, the IMF Board completed an eighth review of the
Extended Arrangement under the Extended Fund Facility for
Argentina. The IMF Board's decision enabled a disbursement of
around US$800 million to support the authorities' efforts to
entrench the disinflation process, rebuild fiscal and external
buffers, and underpin the recovery.
On Nov. 15, 2024, Fitch Ratings has upgraded Argentina's
Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'CCC'
from 'CC', and its Long-Term Local-Currency IDR to 'CCC' from
'CCC-'. Argentina's upgrade to 'CCC' from 'CC' reflects
developments that have improved Fitch's confidence in the
authorities' ability to make upcoming foreign-currency bond
payments without seeking relief of some sort.
S&P, in March 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 S&P ratings have
been affirmed as of August 2024. S&P said the stable outlook on
the long-term ratings balances the risks posed by pronounced
economic imbalances and other uncertainties with recent progress
in
making fiscal adjustments, reducing inflation, and undertaking
structural reforms to address long-standing microeconomic
weaknesses that have contributed to poor economic performance for
many years that it would likely consider to be distressed.
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: World Bank Forecasts 5% GDP Growth in 2025
-----------------------------------------------------
Buenos Aires Times reports that William Maloney, the World Bank's
chief economist for Latin America and the Caribbean, said Argentina
is emerging from a very difficult year of fiscal adjustment, but is
"hopefully" in "transition" towards the recovery of growth in
2025.
Speaking to the AFP news agency in Montevideo, Maloney stressed
that in order to reduce poverty, economic growth is needed, relates
the report.
Argentina is "going through, hopefully, a transition period," said
Maloney, Buenos Aires Times relays. "Our forecasts suggest that we
are going to recover a lot of growth next year, which is going to
reduce poverty."
"But the most important thing is to lay the foundations for
sustained growth at higher levels in the future. And the only way
to reduce poverty in the long run is to have decent growth year
after year after year," he said, the report discloses. "What
happened in this year of adjustment was very bad. But the idea is
that we keep a medium-term view, where we are growing much more and
poverty can be reduced."
The World Bank forecast back in October that Argentina's gross
domestic product will contract by 3.5 percent in 2024, but will
grow by five percent in 2025, the report notes.
Asked about President Javier Milei's policies, Maloney highlighted
the October inflation rate, which was the lowest monthly figure
since November 2021 and confirms the slowdown of consumer price
hikes. "It's an achievement," Maloney stated, notes the report.
"All I can say is that it is imperative to have a stable
macroeconomic base before growing again," Maloney added, the report
relays.
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.
In March 2022, the International Monetary Fund (IMF) approved a
new
30-month arrangement under an Extended Fund Facility for Argentina
in the amount of SDR 31.914 billion (equivalent to US$44 billion,
or 1000 percent of quota). The IMF Executive Board's decision
allowed the authorities an immediate disbursement of an equivalent
of US$9.65 billion in March 2022.
Argentina's IMF-supported program seeks to improve public finances
and start to reduce persistent high inflation through a
multi-pronged strategy, involving a gradual elimination of
monetary
financing of the fiscal deficit and enhancements in the monetary
policy framework.
In June 2024, the IMF Board completed an eighth review of the
Extended Arrangement under the Extended Fund Facility for
Argentina. The IMF Board's decision enabled a disbursement of
around US$800 million to support the authorities' efforts to
entrench the disinflation process, rebuild fiscal and external
buffers, and underpin the recovery.
On Nov. 15, 2024, Fitch Ratings has upgraded Argentina's
Long-Term Foreign-Currency Issuer Default Rating (IDR) to 'CCC'
from 'CC', and its Long-Term Local-Currency IDR to 'CCC' from
'CCC-'. Argentina's upgrade to 'CCC' from 'CC' reflects
developments that have improved Fitch's confidence in the
authorities' ability to make upcoming foreign-currency bond
payments without seeking relief of some sort.
S&P, in March 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 S&P ratings have
been affirmed as of August 2024. S&P said the stable outlook on
the long-term ratings balances the risks posed by pronounced
economic imbalances and other uncertainties with recent progress
in
making fiscal adjustments, reducing inflation, and undertaking
structural reforms to address long-standing microeconomic
weaknesses that have contributed to poor economic performance for
many years that it would likely consider to be distressed.
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.
GAUCHO GROUP: Files for Chapter 11 Bankruptcy in Florida
--------------------------------------------------------
TipRanks reports that Gaucho Group Holdings, Inc. has initiated a
Chapter 11 reorganization, allowing it to maintain operations and
safeguard its assets while facing legal challenges and the threat
of delisting from Nasdaq.
The company intends to capitalize on Argentina's economic recovery
and strategic real estate investments, focusing on maximizing
asset value despite market obstacles. With a revived mortgage
market and a tax amnesty program in place, Gaucho Holdings is
poised to benefit from growing real estate activity and the
integration of cryptocurrency in property transactions.
About Gaucho Group Holdings
Gaucho Group Holdings Inc operates as a holding company. The
Company, through its subsidiaries, provides luxury real estate and
consumer marketplace with collection of wine, hospitality, fashion
brands, and real estate holdings. Gaucho Group Holdings serves
customers in the United States and Argentina.
Gaucho Group Holdings Inc. sought relief under Chapter 11 of the
U.S. Bankruptcy Code (Bankr. S.D. Fl. Case No. 24-bk-21852) on
November 12, 2024.
=============
B E R M U D A
=============
SEADRILL LIMITED: Q3 2024 Operating Revenues Drops 6% to $354M
--------------------------------------------------------------
Seadrill Limited disclosed its third quarter 2024 results and
revised 2024 guidance.
Quarterly Highlights
* Delivered operating profit of $47 million and Adjusted EBITDA(1)
of $93 million, achieving $350 million of Adjusted EBITDA(1)
year-to-date
* Increased midpoint for full-year 2024 Adjusted EBITDA(1)
guidance by 13% from $340 million to $385 million
* Repurchased 4.0 million shares during the third quarter for $183
million, bringing year-to-date repurchases to $427 million
"Seadrill's third quarter results exceeded expectations, leading us
to raise our full-year guidance. We secured additional drilling
work for the Sevan Louisiana and mobilized the West Auriga and West
Polaris to Brazil, where they are undergoing customer and
regulatory acceptance," said President and Chief Executive Officer,
Simon Johnson. "In the absence of an immediate market opportunity
for the West Phoenix, we stacked the rig and released the crews,
refusing to contribute to our own white space, waiting on the
market to change."
"We will continue to be disciplined stewards of shareholder
capital, remaining focused on maximizing cash flow per rig as we
seek to contract uncommitted capacity in 2025 and into 2026.
Despite the near-term imbalance between available rigs and
opportunities, we remain resolute in our belief in the strength and
durability of the offshore drilling industry and Seadrill's
position within it. Operating a concentrated fleet of premium
floaters supported by a strong balance sheet positions us well to
withstand market movements and generate improving returns through
the cycle."
Third quarter 2024 operating revenues totaled $354 million,
compared to $375 million in the second quarter, a decrease of 6%.
Contract revenues were $263 million, similar to prior quarter
results, as sequential improvements in the average dayrate and
economic efficiency earned across the Company's rig fleet were
offset by fewer operating days, following scheduled contract
completions. Management contract revenues were $62 million in the
third quarter, down $3 million from the second quarter, when the
Company recognized retroactive adjustments to the management fee
earned from its Sonadrill joint venture. Leasing revenues were $9
million, compared to $26 million in the second quarter, as
retroactive bareboat charter (BBC) income for the West Gemini and
approximately $10 million of BBC income earned by the Qatar jack-up
rigs sold by Seadrill in June 2024 did not repeat. Reimbursable
revenues were $20 million during the quarter.
A full text copy of the company's financial report is available
free at: https://tinyurl.com/yfvkhs59
As reported in the Troubled Company Reporter-Latin America on Nov.
13, 2024, Fitch Ratings has affirmed the Long-Term Issuer Default
Rating (IDR) of Seadrill Limited and Seadrill Finance Limited at
'B+'. Fitch has also affirmed Seadrill Limited's senior secured
first-lien revolving credit facility (RCF) at 'BB+' with a Recovery
Rating of 'RR1' and the senior secured second-lien note under
Seadrill Finance Limited at 'BB-'/'RR3'. The Rating Outlook is
Stable.
===========
B R A Z I L
===========
BRAZIL: Economic Turmoil Hits Farms, 20.5% Surge in Bankruptcy
--------------------------------------------------------------
Iolanda Fonseca, writing for Rio Times Online, reports that the
Brazilian agricultural sector experienced a significant uptick in
companies seeking judicial recovery during the third quarter of
2024.
This trend reflects broader economic challenges affecting various
industries across the country, notes the report.
Citing the RGF Judicial Recovery Monitor, Rio Times relates that
264 agricultural companies were undergoing judicial recovery by the
end of the third quarter, a 20.5% increase from the previous
period. The surge stems from falling commodity prices, rising
production costs, and high debt levels among rural producers, the
report relays.
According to the report, the third quarter saw 39 new agricultural
companies entering judicial recovery, more than double the 15
filings from the second quarter. During the same period, 18
companies exited the process.
Moreover, five activities account for 75% of judicial recoveries in
the agricultural sector: soybean cultivation (80 companies), beef
cattle raising (54), sugar cane cultivation (42), land preparation
services (12), and corn cultivation (11).
Geographically, Sao Paulo and Goias lead with 46 agricultural
companies each undergoing recovery, followed by Mato Grosso (43)
and Rio Grande do Sul (35), the report notes.
The trend extends beyond agriculture, affecting various sectors in
Brazil, Rio Time says. The total number of companies in judicial
recovery reached 4,408 in the third quarter, a 4.4% increase from
the previous quarter and the highest level in 15 months.
RGF partner Rodrigo Gallegos noted that the increase in judicial
recovery filings reflects a short-term strategy of debt
renegotiation without addressing underlying structural issues,
according to Rio Times. He emphasized the importance of combining
debt renegotiation with improved revenue generation.
The analysis suggests that judicial recovery cases will likely
continue to rise due to high interest rates and credit
restrictions, notes the report. Companies with substantial debt
face challenges in meeting financial obligations amid scarce credit
availability.
Rio Times further relates that Minas Gerais saw the largest
increase in companies seeking judicial recovery, with 47 new cases
bringing the total to 297. Rio Grande do Sul followed with 35 new
cases, reaching 396 companies. Sao Paulo, however, experienced a
slight decrease, dropping from 1,279 to 1,255 companies in judicial
recovery.
This situation underscores the complex economic landscape facing
Brazilian businesses, highlighting the need for strategic planning
and adaptability in challenging market conditions, the report
adds.
About Brazil
Brazil is the fifth largest country in the world and third largest
in the Americas. Luiz Inacio Lula da Silva won the 2022 Brazilian
general election. He was sworn in on January 1, 2023, as the 39th
president of Brazil, succeeding Jair Bolsonaro.
Moody's credit rating for Brazil was last set at Ba2 with positive
outlook as of May 2024. S&P Global Ratings raised on Dec. 19,
2023, its long-term global scale ratings on Brazil to 'BB' from
'BB-'. Fitch Ratings affirmed on Dec. 15, 2023, Brazil's Long-Term
Foreign-Currency Issuer Default Rating (IDR) at 'BB' with a Stable
Outlook. DBRS' credit rating for Brazil was last reported at BB
with stable outlook at July 2023.
GOL LINHAS: Expects to Exit Chapter 11 in April 2025, Says CEO
--------------------------------------------------------------
Giovanna Bellotti Azevedo of Bloomberg News reports that Gol Linhas
Aereas Inteligentes SA's Chapter 11 process has been "positive" in
the company's history, and its exit from bankruptcy in April 2025
is expected to be successful, said CEO Celso Ferrer.
In the third quarter, Gol reached a key milestone by signing a
restructuring support agreement with parent company Abra Group
Limited, Ferrer shared with analysts during a conference call,
Bloomberg relates. The Brazilian airline also completed lease
negotiations last quarter and plans to secure exit financing to
repay its DIP loan, the report relays.
According to Bloomberg News, CFO Eduardo Gotilla noted that the
airline continues to face elevated costs from the devaluation of
the Brazilian real.
About Gol Linhas
GOL Linhas Aereas Inteligentes S.A. provides scheduled and
non-scheduled air transportation services for passengers and cargo;
and maintenance services for aircraft and components in Brazil and
internationally. The company offers Smiles, a frequent-flyer
program to approximately 20.5 million members, allowing clients to
accumulate and redeem miles. It operates a fleet of 146 Boeing 737
aircraft with 674 daily flights. The company was founded in 2000
and is headquartered in Sao Paulo, Brazil.
GOL Linhas Aereas Inteligentes S.A. and its affiliates and its
subsidiaries voluntarily filed for Chapter 11 protection (Bankr.
S.D.N.Y. Lead Case No. 24-10118) on Jan. 25, 2024.
GOL Linhas estimated $1 billion to $10 billion in assets as of the
bankruptcy filing.
The Debtors tapped Milbank Llp as counsel, Seabury Securities LLC
as restructuring advisor, financial advisor and investment banker,
Alixpartners, LLP, as financial advisor, and Hughes Hubbard & Reed
LLP as aviation related counsel. Kroll Restructuring
Administration LLC is the claims agent.
UNIGEL GROUP: Ch. 15 Nod For $810M Restructuring Sought
-------------------------------------------------------
Emlyn Cameron at law360.com reports that several units of Brazilian
petrochemical producer Unigel Group have urged a New York
bankruptcy court to recognize their overseas bankruptcy plans to
address roughly $810 million of debt, saying factors including the
war in Ukraine and inflation have hampered the companies'
liquidity.
About Unigel Participacoes SA
Unigel Participacoes SA is a Brazilian fertilizer manufacturer.
Unigel Participacoes sought relief under Chapter 15 of the U.S.
Bankruptcy Code (Bankr. S.D.N.Y. Case No. 24-11982) on November 15,
2024.
===========================
C A Y M A N I S L A N D S
===========================
BUSINESS FINANCE: Creditors' Meeting Set Dec. 5
-----------------------------------------------
The creditors' meeting for Business Finance Opportunities Fund LP
will be held on Dec. 5, 2024 at 10:00 am (Cayman Islands Time), via
teleconference.
The purpose of the meeting is:
1. The first report of the joint official liquidators, covering
the period Oct. 5, 2023 through Oct. 31, 2024;
2. To seek to establish a liquidator committee,
3. To consider, and if thought fit, approve the basis and amount
of the liquidator's fee and expenses for the period through
Oct. 31 2024, and
4. To consider, and if thought fit, approve the liquidator's
remuneration agreement.
Any creditor who wishes to join the meeting should send a written
notice of its intention to do so, together with the completed proof
of debt form to the contact email by 5:00 pm on Nov. 28, 2024.
The official Joint Liquidator can be reached at:
Warren Paterson
2nd Floor, Fagship Building
142 Seafarers Way
PO Box 2507
George Town, Grand Cayman KY1-1104,
Cayman Islands
Email: wpaterson@alvarezandmarshal.com
===============
X X X X X X X X
===============
[*] BOND PRICING: For the Week from Nov. 18 to 22, 2024
-------------------------------------------------------
Issuer Name Cpn Price Maturity Cntry Curr
---------- --- ----- -------- ----- ----
Aeropuerto Tocumen 5.1 70.3 8/11/2061 PA USD
Aeropuerto Tocumen 5.1 70.1 8/11/2061 PA USD
Aeropuerto Tocumen 4 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 16.4 1/2/2025 KY USD
Agile Group Holdings 6.1 13.4 10/13/2025 KY USD
Agile Group Holdings 5.5 12.6 5/17/2026 KY USD
Agile Group Holdings 7.9 3.3 KY USD
Agile Group Holdings 5.5 15.1 4/21/2025 KY USD
Agile Group Holdings 7.8 3.3 KY USD
Alfa Desarrollo SpA 4.6 74.7 9/27/2051 CL USD
Alfa Desarrollo SpA 4.6 74.6 9/27/2051 CL USD
Alibaba Group Holding 3.2 66 2/9/2051 KY USD
Alibaba Group Holding 2.7 68.5 2/9/2041 KY USD
Alibaba Group Holding 3.3 63.4 2/9/2061 KY USD
AMTD IDEA Group 1.5 7.5 KY USD
AMTD IDEA Group 4.5 55 KY SGD
Amwaj 6.4 69.7 KY USD
Amwaj 4.5 49.6 KY USD
Argentina Bonar Bonds 1 43.3 7/9/2029 AR USD
Argentina Treasury Bond 3.3 45.8 4/30/2024 AR USD
Argentine Bonos del Te 15.5 39.7 10/17/2026 AR ARS
Argentine Gov't Int'l 1 46.4 7/9/2029 AR USD
Argentine Gov't Int'l 0.5 41.4 7/9/2029 AR EUR
Argentine Gov't Int'l 0.1 42 7/9/2030 AR EUR
Ascent Finance 1.2 61.6 7/12/2047 KY EUR
Ascent Finance 3.8 67 6/28/2047 KY AUD
Ascent Finance 3.4 65.7 2/6/2043 KY AUD
Astra Cumulative 2019 1.5 62 11/1/2029 KY USD
At Home Cayman 11.5 69.3 5/12/2028 KY USD
At Home Cayman 11.5 70 5/12/2028 KY USD
AYC Finance 3.9 62.2 KY USD
Banco Davivienda SA 6.7 64.1 CO USD
Banco Davivienda SA 6.7 70.3 CO USD
Banco de Chile 3.6 75.7 11/18/2039 CL AUD
Banco de Chile 3.5 75.4 9/5/2039 CL AUD
Banco de Chile 2.7 74.7 3/9/2035 CL AUD
Banco del Estado de Ch 3.1 70.5 2/21/2040 CL AUD
Banco del Estado de Ch 2.8 67 3/13/2040 CL AUD
Banco Nacional de Pana 2.5 74.7 8/11/2030 PA USD
Banco Santander Chile 3.1 70.6 2/28/2039 CL AUD
Banco Santander Chile 1.3 73.5 11/29/2034 CL EUR
Banda de Couro Energe 8 54.4 1/15/2027 BR BRL
Baraunas II Energeti 8 12.4 1/15/2027 BR BRL
Bishopsgate Asset Fi 4.8 66.9 8/14/2044 KY GBP
Bolivian Gov't Int'l 4.5 55.6 3/20/2028 BO USD
Bolivian Gov't Int'l 7.5 57.2 3/2/2030 BO USD
Bolivian Gov't Int'l 4.5 55.8 3/20/2028 BO USD
Bolivian Gov't Int'l 7.5 57.2 3/2/2030 BO USD
BOPREAL 5 64.7 10/31/2027 AR USD
BOPREAL 3 60.9 5/31/2026 AR USD
Brazilian Gov't Int'l4.8 73.8 1/14/2050 BR USD
BRF SA 5.8 73.5 9/21/2050 BR USD
BRF SA 5.8 73.6 9/21/2050 BR USD
Camposol SA 6 72.1 2/3/2027 PE USD
Camposol SA 6 72.5 2/3/2027 PE USD
CFLD Cayman Investment 2.5 3.4 1/31/2031 KY USD
CFLD Cayman Investment 2.5 3.6 1/31/2031 KY USD
CFLD Cayman Investment 2.5 3.1 1/31/2031 KY USD
CFLD Cayman Investment 2.5 3.8 1/31/2031 KY USD
CFLD Cayman Investment 2.5 2.4 1/31/2031 KY USD
CFLD Cayman Investment 2.5 3.4 1/31/2031 KY USD
CFLD Cayman Investment 2.5 8.7 1/31/2031 KY USD
CFLD Cayman Investment 2.5 3.4 1/31/2031 KY USD
CFLD Cayman Investment 2.5 2.2 1/31/2031 KY USD
Chile Gov't Int'l Bond 3.5 72.6 1/25/2050 CL USD
Chile Gov't Int'l Bond 3.1 73.4 5/7/2041 CL USD
Chile Gov't Int'l Bond 3.1 62.7 1/22/2061 CL USD
Chile Gov't Int'l Bond 3.5 72.1 4/15/2053 CL USD
Chile Gov't Int'l Bond 1.3 67.4 1/29/2040 CL EUR
Chile Gov't Int'l Bond 1.3 54 1/22/2051 CL EUR
Chile Gov't Int'l Bond 3.3 62.8 9/21/2071 CL USD
Chile Gov't Int'l Bond 1.3 74.2 7/26/2036 CL EUR
China Overseas Cayman 3.1 75.1 3/2/2035 KY USD
China Yuhua Education 0.9 65.8 12/27/2024 KY HKD
CK Hutchison Int'l 19 3.4 74 9/6/2049 KY USD
CK Hutchison Int'l 19 3.4 73.9 9/6/2049 KY USD
CK Hutchison Int'l 20 3.4 73.7 5/8/2050 KY USD
CK Hutchison Int'l 20 3.4 73.8 5/8/2050 KY USD
Colombia Gov't Int'l 3.9 2/15/2061 CO USD
Colombia Gov't Int'l 4.1 61.6 5/15/2051 CO USD
Colombia Gov't Int'l 5.2 72.9 5/15/2049 CO USD
Colombia Gov't Int'l 4.1 67 2/22/2042 CO USD
Colombia Gov't Int'l 6.3 73.5 7/9/2036 CO COP
Colombia Gov't Int'l 7.3 71.7 10/26/2050 CO COP
Colombia Gov't Int'l 7.3 71.7 10/26/2050 CO COP
Colombia Gov't Int'l 5 72 6/15/2045 CO USD
Colombia Gov't Int'l 6.3 73.5 7/9/2036 CO COP
Colombia Telecom 5 66.9 7/17/2030 CO USD
Colombia Telecom 5 67 7/17/2030 CO USD
Colombian TES 7.3 71.6 10/26/2050 CO COP
Colombian TES 6.3 73.4 7/9/2036 CO COP
Corp Nacional de Chile 3.7 67.5 1/30/2050 CL USD
Corp Nacional de Chile 3.2 61.2 1/15/2051 CL USD
Corp Nacional de Chile 3.7 67.5 1/30/2050 CL USD
Corp Nacional de Chile 3.6 74 7/22/2039 CL AUD
Corp Nacional de Chile 3.2 61.2 1/15/2051 CL USD
Dibens Leasing S/A 10.9 30.6 3/1/2035 BR BRL
Dibens Leasing S/A 10.9 34.6 3/1/2035 BR BRL
Dibens Leasing S/A 10.9 29.2 3/1/2035 BR BRL
Earls Eight 1.7 72 6/20/2032 KY AUD
Earls Eight 0.1 64.2 12/20/2031 KY AUD
Ecopetrol SA 5.9 74.2 5/28/2045 CO USD
Ecopetrol SA 5.9 70.7 11/2/2051 CO USD
El Salvador Gov't Int 7.1 68.7 1/20/2050 SV USD
El Salvador Gov't Int 7.6 72.9 9/21/2034 SV USD
El Salvador Gov't Int 7.6 73.3 2/1/2041 SV USD
El Salvador Gov't Int 5.9 65.1 1/30/2025 SV USD
El Salvador Gov't Int 7.6 73.5 9/21/2034 SV USD
El Salvador Gov't Int 7.1 68.7 1/20/2050 SV USD
El Salvador Gov't Int 7.6 73.5 2/1/2041 SV USD
Embotelladora Andina 6.5 23.3 6/1/2026 CL CLP
EFE 3.8 65.8 9/14/2061 CL USD
EFE 3.1 60 8/18/2050 CL USD
EFE 3.1 59.9 8/18/2050 CL USD
EFE 3.8 65.8 9/14/2061 CL USD
EFE 6.5 11.2 1/1/2026 CL CLP
ETESA 5.1 71.8 5/2/2049 PA USD
Empresa de Transmision 5.1 72.2 5/2/2049 PA USD
Metro SA 3.7 65.2 9/13/2061 CL USD
Metro SA 3.7 65.1 9/13/2061 CL USD
Metro SA 5.5 50.2 7/15/2027 CL CLP
Edsa SA 5 62.6 5/11/2025 AR USD
ENAP 4.5 73.3 9/14/2047 CL USD
ENAP 4.5 73.4 9/14/2047 CL USD
ENA Master Trust 4 70.8 5/19/2048 PA USD
ENA Master Trust 4 71.1 5/19/2048 PA USD
Enel Generacion Chile 6.2 29.4 10/15/2028 CL CLP
Equatorial Energia 11 1.1 10/15/2029 BR BRL
Equatorial Energia 10.8 1 5/15/2028 BR BRL
Esval SA 3.5 13.2 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 9/8/2024 AR USD
GDS Holdings 4.5 67.7 1/31/2030 KY USD
Generacion Mediterrane 4.6 0 11/12/2024 AR ARS
General Shopping Finan 10 66.2 KY USD
General Shopping Finan 10 65.1 KY USD
Genneia SA 2 56.4 7/14/2028 AR USD
Greenland Hong Kong 10.2 12.9 KY USD
Guacolda Energia SA 4.6 70.4 4/30/2025 CL USD
Guacolda Energia SA 10 70 12/30/2030 CL USD
Guacolda Energia SA 4.6 70.6 4/30/2025 CL USD
Guacolda Energia SA 10 70 12/30/2030 CL USD
Hector A Bertone SA 1.9 0 4/7/2024 AR USD
Hilong Holding 9.8 65.7 11/18/2024 KY USD
Hilong Holding 9.8 62.2 11/18/2024 KY USD
Hilong Holding 9.8 65.6 11/18/2024 KY USD
ICBC DO Brasil 3.3 59.5 BR USD
IMPSA 1 75 12/30/2031 AR USD
Itau Unibanco SA/Nassau 5.8 20.1 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 12/21/2061 JM JMD
Lani Finance 1.7 64.1 3/14/2049 KY EUR
Lani Finance 1.9 66.5 9/20/2048 KY EUR
Lani Finance 1.9 67.5 10/19/2048 KY EUR
Lani Finance 3.1 64.7 10/19/2048 KY AUD
Link Finance Cayman 2.2 69.8 10/27/2038 KY HKD
LIPSA Srl 1 0 8/23/2024 AR USD
Logan Group Co 7 5 KY USD
Longfor Group Holdings 4 45.2 9/16/2029 KY USD
Longfor Group Holdings 3.4 58 4/13/2027 KY USD
Longfor Group Holdings 3.9 40.2 1/13/2032 KY USD
Longfor Group Holdings 4.5 55.2 1/16/2028 KY USD
Luminis III 2.3 41.5 9/22/2048 KY USD
Luminis III 2.4 54 9/22/2048 KY AUD
Luminis IV 3.2 69.6 1/22/2042 KY AUD
Luminis 2.3 53.5 9/22/2048 KY AUD
Lunar Funding I 1.7 70.7 8/11/2056 KY GBP
MTR Corp CI 3 72.6 3/11/2051 KY HKD
MTR Corp CI 2.8 72.7 9/6/2047 KY HKD
MTR Corp CI 3.2 73.1 2/5/2055 KY HKD
MTR Corp CI 3 72.5 3/11/2051 KY HKD
Panama Gov't Int'l Bon 4.5 64.1 4/1/2056 PA USD
Panama Gov't Int'l Bon 2.3 70.3 9/29/2032 PA USD
Panama Gov't Int'l Bon 3.9 56.6 7/23/2060 PA USD
Panama Gov't Int'l Bon 3.3 75.7 1/19/2033 PA USD
Panama Gov't Int'l Bon 4.5 65.7 4/16/2050 PA USD
Panama Gov't Int'l Bon 4.5 63 1/19/2063 PA USD
Panama Gov't Int'l Bon 4.5 67.3 5/15/2047 PA USD
Panama Gov't Int'l Bon 4.3 63.8 4/29/2053 PA USD
Peruvian Gov't Int'l 2.8 57.2 12/1/2060 PE USD
Peruvian Gov't Int'l 3.2 57 7/28/2121 PE USD
Peruvian Gov't Int'l 3.6 71.3 3/10/2051 PE USD
Peruvian Gov't Int'l 3.6 65.4 1/15/2072 PE USD
Peruvian Gov't Int'l 3.3 74 3/11/2041 PE USD
Petroleos del Peru SA 5.6 66.3 6/19/2047 PE USD
Petroleos del Peru SA 5.6 66.4 6/19/2047 PE USD
Powerlong Real Estate 6.3 10.3 8/10/2024 KY USD
Provincia de Cordoba 7.1 39.7 10/27/2026 AR USD
Provincia de la Rioja 4.5 55.5 1/20/2027 AR USD
Provincia de la Rioja 7.5 51.1 7/20/2032 AR USD
Chaco Argentina 4 0 12/4/2026 AR USD
QNB Finance 13.5 65.4 10/6/2025 KY TRY
QNB Finance 11.5 73.2 1/30/2025 KY TRY
QNB Finance 2.9 73.4 9/16/2035 KY AUD
QNB Finance 2.9 72.1 12/4/2035 KY AUD
QNB Finance 3 74.6 2/14/2035 KY AUD
QNB Finance 3.4 70.7 10/21/2039 KY AUD
Radiance Holdings Grou 7.8 69.6 3/20/2024 KY USD
Rio Alto Energias Reno 7 28.7 7/15/2027 BR BRL
Santander Consumer Ch 2.9 72.5 11/27/2034 CL AUD
Seazen Group 6 70.3 8/12/2024 KY USD
Seazen Group 4.5 30.6 7/13/2025 KY USD
Shui On Dev't 5.5 73.2 3/3/2025 KY USD
Shui On Dev't 5.5 61.7 6/29/2026 KY USD
Silk Road Investments 2.9 66 1/23/2042 KY AUD
Skylark 1.8 59.1 4/4/2039 KY GBP
Autopista Central 5.3 37.3 12/15/2026 CL CLP
Vespucio Norte 5.3 50.7 12/15/2028 CL CLP
Minera de Chile SA 3.5 65.5 9/10/2051 CL USD
Minera de Chile SA 3.5 65.4 9/10/2051 CL USD
Southern Water Services 3 70.9 5/28/2037 KY GBP
SPE Saneamento RIO 1 7.2 10.7 1/15/2042 BR BRL
SPE Saneamento RIO 2 6.9 10.3 1/15/2034 BR BRL
SPE Saneamento RIO 3 7.2 10.8 1/15/2042 BR BRL
SPE Saneamento RIO 4 6.9 10.3 1/15/2034 BR BRL
Spica 2 74.6 3/24/2033 KY AUD
Spirit Loyalty Cayman 8 72.1 9/20/2025 KY USD
Spirit Loyalty Cayman 8 72.5 9/20/2025 KY USD
Spirit Loyalty Cayman 8 72 9/20/2025 KY USD
Spirit Loyalty Cayman 8 70.9 9/20/2025 KY USD
Sylph 2.7 68.3 3/25/2036 KY USD
Sylph 2.4 64.1 9/25/2036 KY USD
Sylph 3.1 74.6 9/25/2035 KY USD
Sylph 2.9 74.1 6/24/2036 KY AUD
SYN prop e tech SA 11.1 21.1 3/15/2024 BR BRL
Telecom Argentina SA 1 74.1 3/9/2027 AR USD
Telecom Argentina SA 1 66.2 2/10/2028 AR USD
Telefonica Moviles Chi 3.5 74.1 11/18/2031 CL USD
Telefonica Moviles Chi 3.5 74.2 11/18/2031 CL USD
Tencent Holdings 3.8 75.4 4/22/2051 KY USD
Tencent Holdings 3.2 67.3 6/3/2050 KY USD
Tencent Holdings 3.3 63.6 6/3/2060 KY USD
Tencent Holdings 3.9 73.4 4/22/2061 KY USD
Tencent Holdings 3.8 74.8 4/22/2051 KY USD
Tencent Holdings 3.2 67.2 6/3/2050 KY USD
Tencent Holdings 3.3 63.8 6/3/2060 KY USD
Tencent Holdings 3.9 73.2 4/22/2061 KY USD
Three Gorges Finance 3.2 70.5 10/16/2049 KY USD
Grupo Travessia 9 1.6 1/20/2032 BR BRL
Vina Santa Rita SA 4.4 63.8 9/15/2030 CL CLP
Volcan Cia Minera SAA 4.4 61.7 2/11/2026 PE USD
Volcan Cia Minera SAA 4.4 61.8 2/11/2026 PE USD
VTR Comunicaciones SpA 5.1 62.5 1/15/2028 CL USD
VTR Comunicaciones SpA 4.4 62.9 4/15/2029 CL USD
VTR Comunicaciones SpA 5.1 63.1 1/15/2028 CL USD
VTR Comunicaciones SpA 4.4 63.1 4/15/2029 CL USD
YPF SA 7 72.5 12/15/2047 AR USD
YPF SA 7 72.1 12/15/2047 AR USD
YPF SA 1 65.9 4/25/2027 AR USD
*********
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
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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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