• Monday, September 25 2017
    Venezuela:

    - Last Friday, the government of Canada announced economic sanctions on key Venezuela’s officials which affects 40 individuals who have played a key role in Maduro´s regime. In detail, these sanctions prohibit any person in Canada or any Canadian outside the country to have any type of economic relation with these members of the Venezuelan government. We see that the consequences of this sanctions are very similar to those applied by the United States government, affecting only individuals, reason why we do not expect the conse

    Read More >>
  • Thursday, September 21 2017

    Venezuela:

    - Yesterday rumors started of the country being late on the payment of an USD185mn coupon of the VENZ27, which had to be canceled on September 15. Nevertheless, near the end of the day the national public credit office said that it sent the money on time to the corresponding financial institutions and the delay is due to "operational changes" in order to make future financial transactions effective. Furthermore, the credit institution reiterated Venezuela’s commitment in paying its debt and ca

    Read More >>
  • Tuesday, September 19 2017
    Venezuela:

    - According to some new information, it seems that PetroChina Americas is revising its oil for cash agreements with PDVSA after the US sanctions were imposed, which would made them unable to act as an agent to commercialize Venezuelan crude. In detail, there is no change –as the sanctions detailed- in the ongoing contracts; the effect comes for the intention to renew or to extent the terms of the existence contracts. Read More >>

  • Friday, August 25 2017
    Venezuela

    -Yesterday, it was known that some representatives of the Venezuelan government has been trying to reach a general agreement in China that comprises the creation of a sub-fund for the repurchase of Venezuelan debt –sovereign and PDVSA’s- which will allow the government to take advantage of the savings made when buying at discount the bonds with maturities in 2017 and 2018, savings are calculated around USD700mn. The final strategy will be to swap at maturity the bonds that are repurchase for new PDVSA’s debt with maturities

    Read More >>

BancTrust & Co. is a boutique investment bank dedicated to Latin America and specialized in High Beta LatAM & the Caribbean Credit Markets; mainly Venezuela, Argentina, and Dominican Republic.

The firm operates through various entities located across The Americas and Europe. As a group of companies, we facilitate global market transactions to a diverse client base that includes corporate treasuries, financial institutions, asset managers, and governments and its entities.

  • Venezuela Weekly Report

    The Plenipotentiary ANC

    August 22 2017 BancTrust & Co. Research Team

    The National Constituent Assembly (ANC in Spanish) approved a decree that empowers the ANC to legislate in those matters concerning “the guarantee of peace and institutionality”, as well as those involving the stability of the “socioeconomic and financial system”. Without further disclosure of the extent of the decree, the president of the ANC and former Chancellor Delcy Rodriguez affirmed that this decree “does not dissolve” the National Assembly (AN in Spanish) – dominated by the opposition –, but rather instructs them to subordinate to the ANC while also makes a call for the coexistence of both ANC and AN. Read more

  • Argentina Weekly Report

    Inflation is Finally Giving Up

    September 15 2017 BancTrust & Co. Research Team

    This week, the long-awaited news arrived to confirm that the government’s policies have resulted in routing inflation to the desired target and that the FX movements did not cause the so fear “pass-through” effect. However, this is still not enough reason for the Central Bank of Argentina to ease its actions with the key monetary policy rate. Read more

  • Quantitative Reports

    EM Quantitative Chartbook Weekly Report

    July 17 2015 Research & Strategy Team

    Below we produce the Par Equivalent CDS spread metrics in order to assess the credit relative value and identify the bonds that are cheap or expensive relative to what we describe as a theoretical fair value curve. Graphs and tables below show results of these calculations for Venezuela, PDVSA, Ukraine, Russia, Argentina, Panama, Turkey, Ecuador, Mexico and Brazil. Read more

  • May 10 2017

    Venezuela: – Yesterday took place the first meeting summoned by the Presidential Commission for the Constituent with some Read more