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Capital markets

Brazil relaxes stock exchange rules
Brazil relaxes stock exchange rules

Brazil relaxes stock exchange rules

09 March 2001

The Brazilian Monetary Council has made more flexible the regulations governing the incorporation, organisation and operation of stock exchanges in Brazil with a view to rendering transactions made at local stock exchanges more flexible.

Shearman & Sterling and Pérez Alati advise on US$275 million commercial paper programme
Shearman & Sterling and Pérez Alati advise on US$275 million commercial paper programme

Shearman & Sterling and Pérez Alati advise on US$275 million commercial paper programme

02 March 2001

Shearman & Sterling and Pérez Alati are advising in a US$ 275-million LC-backed commercial paper programme for Banco Río de la Plata, the second-largest privately-owned bank in Argentina. The arrangers of the transaction are Bank of America and Banco Santander.

Creel, Garcí­a-Cuéllar advises on cigarette securitisation
Creel, Garcí­a-Cuéllar advises on cigarette securitisation

Creel, Garcí­a-Cuéllar advises on cigarette securitisation

02 March 2001

Creel, García-Cuéllar y Müggenburg, SC is acting as counsel to the borrower, Cigarrera La Moderna SA de CV, and the guarantor, British American Tobacco Plc, in the securitisation of a loan worth over US$100 million, granted by BBVA Bancomer.

Lawyers help draw up derivatives regulation
Lawyers help draw up derivatives regulation

Lawyers help draw up derivatives regulation

23 February 2001

Levy & Salomão Advogados attorneys have been helping to frame a draft regulation on derivatives transactions which has been submitted to the Central Bank of Brazil.

US$150 million eurobond from Aeropuertos Argentina 2000 SA ('AA2000')
US$150 million eurobond from Aeropuertos Argentina 2000 SA ('AA2000')

US$150 million eurobond from Aeropuertos Argentina 2000 SA ('AA2000')

12 February 2001

AA2000 was represented by Buenos Aires-based M&M Bomchil in the offering of fixed-rate bonds which closed on January 12, 2001 and is due 2004.

Substitute regulation of the investment promotion and guarantee law in Ecuador
Substitute regulation of the investment promotion and guarantee law in Ecuador

Substitute regulation of the investment promotion and guarantee law in Ecuador

18 January 2001

On January 17, Executive Decree 1132, the Investment Promotion and Guarantee Law and the Substitute Regulation, was issued, providing that the state, through all of its entities, is required to ensure that investments are made with all the guarantees established in the Constitution.

Simplified Tender Offers in Chile
Simplified Tender Offers in Chile

Simplified Tender Offers in Chile

05 January 2001

On January 5 the regulator Superintendencia de Valores y Seguros enacted general rules regulating simplified tender offers.

Discussion of derivative action in Chile
Discussion of derivative action in Chile

Discussion of derivative action in Chile

01 January 2001

January 2001: The recently approved Tender Offer and Corporate Governance Bill introduces certain issues of corporate governance issues into Chilean commercial legislation, with the purpose of bringing such legislation into line with international standards. The Bill however refers only to limited aspects of corporate governance.

Legislation to create new investment climate for stock market in Chile
Legislation to create new investment climate for stock market in Chile

Legislation to create new investment climate for stock market in Chile

22 December 2000

The government has approved new legislation, 'the New Law', on change of control and tender offers in companies which make public offers of their shares. The New Law will was enacted on December 20, 2000.

US$50 million Political Risk Insured Floating Rate Notes offering in Argentina
US$50 million Political Risk Insured Floating Rate Notes offering in Argentina

US$50 million Political Risk Insured Floating Rate Notes offering in Argentina

20 December 2000

Pérez Alati and White & Case advised on an offering of Floating Rate Notes, completed for Banco de Galicia y Buenos Aires SA, on December 20, 2000. It is for a principal amount of US$50 million, due in 2005.