Endesa powers Chile into new century
Latin American borrowers who took advantage of the tight spreads and long tenors available during most of 1997 have cause for satisfaction. In the wake of fourth-quarter bond-market volatility, doubts have been raised about their level of access to international capital markets in the next year.
Before the Asian-induced October upheavals, it had been a year of steadily tightening spreads and lengthening tenors, with most deals heavily oversubscribed in spite of a record supply coming onto the market.
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