Bonds
Carlos Slim’s Backing Triggers Best Bond Rally in Latin America
- Braskem-Idesa dollar bonds have returned 26% this year
- Slim’s bank took part in a loan to build key import terminal
Carlos Slim speaks during a press conference in Mexico City on Feb. 12.
Photographer: Alejandro Cegarra/BloombergThis article is for subscribers only.
Wall Street has the richest man in Latin America to thank for the best bond rally in the region this year.
Debt from petrochemical company Braskem Idesa SAPI has handed money managers a return of 26% in 2024, the best in a Bloomberg index of peers. It followed a two-year decline that had wiped out more than 40% of the bonds’ value amid high interest rates and falling margins.