BCP Securities Inc

Congratulations to Abra Group, the controlling shareholder of avianca and GOL Linhas Aéreas, on its successful $1.25 billion comprehensive refinancing! BCP Securities Inc was proud to act as the sole Placement Agent for the issuance of $510 million in senior secured notes, an integral part of this refinancing. This transaction strengthens Abra Group’s financial foundation, supporting its continued growth and strategic expansion across its airline network.

As #Argentina’s government works to reverse a prolonged economic slump, The World Bank and the Inter-American Development Bank (IDB) are providing Argentina with $8.8 billion in financing. The South American country's economy ministry announced on Wednesday 10/18, as the cash-strapped government ramps up support from key lenders.   See what BCP Securities Inc's Chief Economist Walter Molano has commented on the matter: "President #JavierMilei is actively negotiating with multilateral credit organizations to secure over $20 billion in external financing..." "If successful, these negotiations could facilitate the removal of dollar restrictions by early 2025. Additionally, Argentina is catalyzing a drilling and production boom in the Vaca Muerta shale formation, aiming to position itself as a significant player in the global energy market. With soaring shale oil and gas output, the country recognizes that infrastructure development is essential to support exports, allowing it to leverage its vast reserves amid ongoing global supply concerns."    Visit Bloomberg Línea to read the full article. For the BCP Daily Emerging Market Advisor, reach out to your BCP Representative, or email us at inquiry@bcpsecurities.com

And that's a wrap! We finished up our #Argentina Investor Conference this week, focused on the country's current economic transformation. The visit provided an opportunity to observe the policies being implemented by President #JavierMilei's administration, which mark a decisive shift in Argentina's trajectory. By addressing fiscal mismanagement and reworking structural economic issues, these reforms aim to stabilize the economy and dismantle entrenched inefficiencies. The observations highlight the broader implications of these changes, which could redefine Argentina's economic future at a critical juncture.  To read more on our takeaways and thoughts from the week, take a read of our recent publication “Argentina: This Time Seems Different” by Dr. Walter Molano. To access, reach out to your dedicated BCP Representative, or email us at inquiry@bcpsecurities.com.

As a final reminder, this week is our 2024 Argentina Investor Conference, hosted in Buenos Aires. Hosted this Monday and Tuesday, we will hold in person presentations by many of the following issuers: Aeropuertos Argentina 2000, Telecom Argentina, Genneia, MSU Energy, Albanesi, IRSA, Banco Hipotecario, Edenor, Province of Jujuy, PF Luz. In addition, the conference will focus on sovereign issues during Tuesday‘s afternoon and both days’ lunches, where we expect to hear from specialized speakers on the matter, including Diana Mondino -- Foreign Minister, Sergio Berensztein -- Polster/Political Analyst Rogelio Frigerio -- Gov Entre Rios, Miguel Angel Pichetto -- Congress. Interested in attending? For details on the event, reach out directly to your BCP Representative, or email us at inquiry@bcpsecurities.com. 

Another successful São Paulo Annual Investor Conference in the books for BCP Securities Inc! The 21st, to be exact.   This year, we had two jam packed days of presentations from some of Brazil's most well known companies, including Movida Aluguel de Carros, FS Fueling Sustainability, Azul Linhas Aéreas Brasileiras, CSN - Companhia Siderúrgica Nacional, Ambipar, Braskem, Votorantim Cimentos, Nexa Resources and Aegea Saneamento. With over 100 institutional clients in attendance at the conference in the Hotel Fasano.   Alongside presentations from nine issuers, BCP Research also shared our insights. We noted that, overall, investor sentiment is cautiously optimistic, with recent new issues in the primary market generating the most interest. At the same time, investors active in both local and offshore markets are starting to shift their focus back to offshore instruments, given the recent significant compression of rates onshore.    If you’re interested in more information about this Investor Conference, or would like to attend the next one, reach out directly to your BCP Representative, or email us at inquiry@bcpsecurities.com. #BCPSecurities #EmergingMarkets #Brazil

In July, BCP Securities Inc conducted transactions for #Argentina based Telecommunications Company, Telecom Argentina.  BCP acted as Dealer Manager for the issuance of US$400 Million and US$261 Million in 2026 and 2025 Notes, respectively. Additionally, BCP acted as Joint Bookrunner for a US$500 Million 9.5% 2031, 7-Year Bond for the telecommunications company. Congratulations to the Telecom team on these successful transactions. 

In just two weeks, we will be back in #BuenosAires, Argentina on Monday, October 14, and Tuesday, October 15, 2024. For our Annual Argentina Investor Conference. The conference is expected to include in person presentations by many of the following issuers during the whole Monday and Tuesday’s morning: Aeropuertos Argentina 2000, Telecom Argentina, GRUPO ALBANESI, IRSA PROPIEDADES COMERCIALES, Edenor, and more. In addition, the conference will focus on sovereign issues during Tuesday‘s afternoon and both days’ lunches, where we expect to hear from specialized speakers on the matter, including Diana Mondino, Foreign Minister, Sergio Berensztein, Polster/Political Analyst, Rogelio Frigerio, Gov Entre Rios, Miguel Angel Pichetto, Congress. Interested in attending? For details on the event, reach out directly to your BCP Representative, or email us at inquiry@bcpsecurities.com. 

This September, BCP Securities Inc. was proud to act as #JointBookrunner on a US$500 Million new 7-year #bond for Turkish based Pegasus Airlines. Follow us to learn more on how we leverage our expertise and relationships in #EmergingMarkets to carry out successful Bond Transactions for our clients worldwide. #PegasusAirlines #Turkey #EmergingMarkets

Reminder that our 2024 Brazil Investor Conference is this week in São Paulo, Brazil, hosted on October 2nd and 3rd in the heart of SP. We have a packed agenda, with over 10 presentations from companies based in the Brazil area, as well as presentations from the BCP team, including our Credit Research Team presentation from Ben Hough, Luiz Felipe Scalercio, Lucas Bonelli and a dinner presentation from Chief Economist, Dr. Walter Molano. Interested in attending in person? Please reach out to your dedicated BCP Representative or email us at inquiry@bcpsecurities.com. Follow along for updates from the week and we look forward to sharing! #SãoPaulo #EmergingMarkets #BCP

This October, we will be back in São Paulo for our Annual Brazil Investor Conference.   We look forward to hosting over 10 local issuers, including: Aegea Saneamento, Ambipar, Movida Aluguel de Carros, Nexa Resources and many more.    If interested in attending, please reach out to your BCP representative. If you do not have a representative and would like to attend, please reach out to inquiry@bcpsecurities.com.