The world of Latin debt capital markets is becoming increasingly competitive. It's no longer the domain of a handful of large New York institutions: there's money to be made, and a lot of different banks are interested in making it.
In September, for instance, Banco Industrial, the biggest bank in Guatemala, decided to start securitizing its income stream from remittances. It's the kind of structure that Latin banks have been using for many years, but it marks Industrial's first foray into the international capital markets, so they obviously wanted to get the deal done right.
