A new wave of debt restructuring all over Latin America is poised to drive dealmaking as many companies find no other way to obtain cash.
Most of the transactions out there require credit and, whether you are an investor or a banker, either you figure out how to do that or you dont have a deal, Jim Allen, head of merger and acquisitions in Latin America for Morgan Stanley, said in an interview in New York. He added that many private equity firms are playing the whole balance sheet.
Major restructuring initiatives include companies like Brazilian mobile phone company Oi SA, which hired PJT Partners to restructure 60 billion reais ($16.7 billion) of debt after a proposed merger with Telecom Italia SpAs unit in the country fell through. Colo…
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