Mariana Santibanez

New York

Financial Journalist, Debtwire Latin America at Debtwire

Latin America high-yield reporter for @debtwire in New York City. All views my own. [email protected]

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Articles

Case Profile - Telefonica del Peru requests domestic in-court restructuring, Chapter 15 recognition, amid tax liabilities, impending maturities

1 month ago | ionanalytics.com | Lucy Monteiro |Mariana Santibanez |Shirley Williams |Paul Gunther

Telefonica del Peru filed a voluntary restructuring proceeding before the National Institute for the Defense of Competition and Protection of Intellectual Property (INDECOPI) on 24 February, according to court documents.
Telefonica del Peru bondholders organize with Moelis amid upcoming debt payment, bankruptcy filing

2 months ago | ionanalytics.com | Madalina Iacob |Mariana Santibanez |Ben Miller

An ad hoc group of Telefonica del Peru (TdP) bondholders has organized with Moelis as financial advisor amid the initiation of a bankruptcy protection process in Peru, two sources close to the matter said. The bondholders are working with Akin as legal counsel, Debtwire previously reported. The Peruvian telecom has been facing a deteriorating liquidity position impacted by a sizeable tax liability with the Peruvian tax authority SUNAT.
Honduras readies bond issuance amid progress towards IMF agreement

Sep 10, 2024 | ionanalytics.com | Mariana Santibanez |Santiago del Carril |Ben Miller

“The idea is to come to market with a social bond and place it between September and the end of this year,” the source close said. Honduras has already selected banks and is targeting a USD 500-USD 800m size with a 10- year or 20-year maturity, this source said. “We expect them to go to the market before the end of the year to strengthen their reserve position,” the source familiar said.
Panama: Higher fiscal deficit expectations warrant additional issuance in 2024

Jul 12, 2024 | ionanalytics.com | Mariana Santibanez |Santiago del Carril |Ben Miller

News (Intelligence) Panama’s (BBB/Baa3/BB+) higher-than-expected fiscal deficits would require additional debt issuance in 2024, three sources following the sovereign said.
Volcan seeks second extension on syndicated loan payment

May 7, 2024 | ionanalytics.com | Álvaro Ledgard |Mariana Santibanez |Santiago del Carril |Ben Miller

Volcan Compania Minera is pursuing a second extension with banks to postpone a USD 34.2m syndicated loan amortization payment, according to a source close to the matter and two sources familiar with the matter. The original due date for the payment was 25 April, and the Peruvian miner reached an agreement with banks on 24 April for a two-month extension, to 24 June. The USD 400m syndicated loan was signed in December 2021.
Apex Tool Group priming transaction infuriates left-behind lenders

Feb 22, 2024 | ionanalytics.com | Huiling Cai |Madalina Iacob |Mariana Santibanez |Ben Miller

Angelo Gordon is among the lenders leading a deal to provide new capital to Apex Tool Group in a priming deal that has outraged lenders left out of the transaction, according to two sources familiar with the matter. The company on Wednesday (21 Feb) told creditors it had reached an agreement with a group of lenders to provide a USD 125m first out delayed draw loan to the liquidity-starved tool manufacturer, the first source and an additional source familiar with the matter said.
Liability management deals heat up amid widespread borrower stress

Feb 2, 2024 | ionanalytics.com | Huiling Cai |Madalina Iacob |Mariana Santibanez |Ben Miller

Distressed companies are expected to employ ever more sophisticated and, in some cases, aggressive liability management transactions (LMTs) as advisors continue to test the boundaries of credit documents.
Healthcare restructuring set for another busy year

Feb 2, 2024 | ionanalytics.com | Mariana Santibanez |Madalina Iacob |Ben Miller

Reimbursement challenges and high labor costs are expected to continue to drive restructuring activity among healthcare companies this year after a busy 2023. “We see the pipeline here as being fairly robust in terms of both healthcare services and pharmaceuticals,” said Daun Chung, Managing Partner at MTS Health Partners.
Radiology Partners targets USD 300m preferred raise to back recap

Jan 19, 2024 | ionanalytics.com | Ben Miller |Madalina Iacob |Mariana Santibanez |Jay Antenen

Radiology Partners is seeking to raise at least USD 300m of preferred equity in a move to strengthen its financing position and flexibility, three sources familiar with the matter said. The healthcare services group today (January 19) announced a set of new financing transactions to extend debt maturities without providing details on the amount of equity it planned to raise.
Petroperu: Sovereign support to continue despite claims of lack of budget space

Oct 31, 2023 | info.debtwire.com | Mariana Santibanez |Arora Vishal

News Analysis By Mariana Santibanez PetroPeru is expected to continue to receive support from Peru’s government, despite comments that there is no budgetary space for new financial support to the state-owned oil company this year, according to a corporate and sovereign analyst.