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Capital markets

Cariola and Davis Polk in tender offer launched by Chile's Enersis
Cariola and Davis Polk in tender offer launched by Chile's Enersis

Cariola and Davis Polk in tender offer launched by Chile's Enersis

21 November 2000

The offer, launched on November 21 2000, is for the outstanding shares of two of its distribution subsidiaries, Chilectra and Rio Maipo.

Hughes Hubbard and Sherman & Sterling in US$120 million commercial paper program
Hughes Hubbard and Sherman & Sterling in US$120 million commercial paper program

Hughes Hubbard and Sherman & Sterling in US$120 million commercial paper program

21 November 2000

The program, a re-do of one done last year, was signed between CABEI and Barclays Bank PLC. It is designed to finance foreign trade operations in Central America and was effective as of November 21, 2000.

Bruchou Fernandez and Davis Polk in floating notes offering in Argentina
Bruchou Fernandez and Davis Polk in floating notes offering in Argentina

Bruchou Fernandez and Davis Polk in floating notes offering in Argentina

31 October 2000

On October 31, 2000, BBVA Banco Francés SA completed the offering of floating rate notes in the principal amount of US$150 million, due 2002.

Recent issuance of rules to attract foreign investors to stock markets
Recent issuance of rules to attract foreign investors to stock markets

Recent issuance of rules to attract foreign investors to stock markets

18 October 2000

The Central Bank of Brazil (BACEN) issued Resolution No 2786 on October 18, 2000, which enacted new rules allowing foreign investors to contract the local currency exchange directly with the Brazilian Chamber of Clearing and Custody (CBLC), the Clearing of the São Paulo Stock Exchange (BOVESPA).

Iron and steel company's share offer consolidated
Iron and steel company's share offer consolidated

Iron and steel company's share offer consolidated

17 October 2000

Caracas's d'Empaire Reyna advised BBO in its US$116 million public share offer to obtain control of Consolidated, a subsidiary of Sivensa, which was advised by Rodríguez & Mendoza.

Recently enacted regulations for tender offers
Recently enacted regulations for tender offers

Recently enacted regulations for tender offers

19 September 2000

The regulations, published in the Official Gazette No. 36.961 in May, have been amended by the Offcial Gazette No 37.039, of September 19, 2000.

Procompetencia appoints new superintendent
Procompetencia appoints new superintendent

Procompetencia appoints new superintendent

19 September 2000

Jorge Geza Zzepiaku Otahola was appointed on November 13 to Procompetencia, the Venezuelan antitrust authority, replacing Lelly Milani, who has returned to her post as deputy superintendent.

Syndicated Term Facility executed locally by M&M Bomchil and Bruchou, Fernández Madero
Syndicated Term Facility executed locally by M&M Bomchil and Bruchou, Fernández Madero

Syndicated Term Facility executed locally by M&M Bomchil and Bruchou, Fernández Madero

17 September 2000

The final US$25 million was lent to Central Termoeléctrica on September 21, with the yen equivalent of US$70 million having been lent to Central Costanera two months earlier.

Public stock offering conditions issued
Public stock offering conditions issued

Public stock offering conditions issued

14 September 2000

The Ministry of Finance and Public Credit issued these rules to set forth and clarify the conditions applicable to foreign issuers who are interested in registering and offering their stock in the Mexican Stock Market. These conditions are designed to allow the offering of international securities in the Mexican Stock Market in an effort to internationalise it and turn it into a hub stock exchange for Latin America.

New legal framework for tender offers
New legal framework for tender offers

New legal framework for tender offers

07 September 2000

In the last three months the National Securities Commission (Comisión Nacional de Valores - CNV), the body in charge of the supervision of the capital market in Argentina, issued two resolutions by means of which the regulatory regime for tender offers was modified.