New Developments 2006 New Developments 2006
New Developments 2006

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December 29, 2006

January 2, 2007 Closing for EM Trading. 

December 22, 2006

Moody's Downgrades Hungary's Foreign Currency Rating from A1 to A2. 

December 21, 2006

Calculations for Payments on Uruguay VRR's Announced.

Moody's Upgrades Uruguay's Foreign Currency Rating to B1 from B3. 

December 19, 2006

The Bank of Thailand Imposes Reserve Requirements on Short-Term Capital Inflows. 

The Bank of Thailand Regulation on Short Term Capital Inflows (in Thai). 

December 18, 2006

Calculations for Payments on Mexico VRR's, Series E, Announced. 

December 12, 2006

EMTA Winter Forum in London to be Held on February 28, 2007. Invitations to be distributed shortly.

December 11, 2006

Holiday Schedule for EM Bond Trades for Christmas, Boxing Day and New Year's Holidays.  

2007 Holiday Schedule. 

2007 Batch Settlement Schedule for Certain Class I Loan Assets. 

December 7, 2006

Standard & Poor's Downgrades Belize's Long-Term Foreign Currency Rating to 'Select Default'. 

December 6, 2006

Presentation by Henrique de Campos Meirelles, President, Central Bank of Brazil, at the 2006 EMTA Annual Meeting.

EMTA Annual Meeting Sell Side Panel - Market Views on Key Variables for 2007.

Statement from Government of Belize on Debt Exchange Offer. 

EMTA Special Presentation on 'Partial' Sovereign Restructurings: Official Sector Implications. 

    • Summary of Panel Discussions by Michael M. Chamberlin, EMTA Executive Director. 

December 5, 2006

EMTA's Fourth Quarter Bulletin is Now Available in our Bulletin Section. 

December 1, 2006

EMTA to Host a Special Presentation on 'Partial' Sovereign Restructurings: Official Sector Implications in New York City on December 6, 2006. 

November 29, 2006

List of Live and Silent Auction Items for EM Benefit to Be Held in New York on December 6, 2006 Now Available. 

November 28, 2006

Argentina GDP Warrants Record Date of December 14 (Other Than for YEN Warrants, Which Have a Record Date of December 1) and Payment Date of December 15 Expected. Trades are ‘Ex-Dividend’ on December 12 (Other Than for YEN Warrants Trades, Which Are 'Ex-Dividend' on November 29). Note that Euroclear Changed the Record Date for the Euro-Denominated Warrants (XS0209139244) and the Yen-Denominated Warrants (ARARGE03E675) to November 30, 2006. 

November 22, 2006

Moody's Upgrades Pakistan's Foreign Currency Bond Rating to B1. 

November 21, 2006

EMTA Announces 3Q 2006 Debt Trading Volume Stood at US$1.599 Trillion. 

November 20, 2006

Standard & Poor's Raises Peru's Long-Term Foreign Currency Rating to BB+. 

November 17, 2006

Mexico VRR, Series E, Record Date of December 15 and Payment Date of January 2 Expected. Trades are ‘Ex-Dividend’ on December 13. Calculations for Payments on the VRR's will be Announced by the Fiscal Agent Shortly.

November 15, 2006

Payment on Nigeria Payment Adjustment Rights - Fiscal Agent Notice and Euroclear DACE Notice.

November 13, 2006

Henrique de Campos Meirelles, President, Central Bank of Brazil, to Deliver Keynote Address at EMTA's Annual Meeting on Wednesday, December 6, 2006. Click Here to Register.

November 10, 2006

EMTA's FOCUS ON AFRICA: The Nigerian Financial Markets [Proceedings Subject to the Chatham House Rule]:

  • Click Here for remarks by Dr. Mansur Muhtar (Debt Management Office) delivered by Mr. Yukubu Aliyu
  • Click Here for remarks by Dr. Sarah Alade (Central Bank of Nigeria)
  • Click Here for remarks by Mr. Bode Agusto (Budget Office, Nigerian Ministry of Finance)
  • Click Here for remarks by Mr. Bolaji Shenjobi (Money Market Association of Nigeria)
  • Click Here for a paper by Miss Eyamba Henshaw (National Pensions Commission) [unable to attend in person]
  • Click Here for "Nigeria: Main Findings from EMTA Conference in London" Francis Beddington and Stephen Bailey-Smith (Standard Bank)
  • Click Here for "FAQs on Investing in the Nigerian Bond Market" provided by Udo Udoma & Belo-Osagie

EMTA Annual Meeting in New York City to be Held on December 6, 2006. Invitations to be distributed shortly.

November 8, 2006

Holiday Schedule for EM Bond Trades for US Thanksgiving Holiday.  

EM Ltd. and NML Capital v. Argentina. 

November 6, 2006

Philippines to Redeem Interest Reduction Bonds – Fiscal Agent Notice. 

November 2, 2006

Standard & Poor's Upgrades Kazakhstan's Long-Term Foreign Currency Rating to BBB. 

November 1, 2006

Keynote Address by Heng Swee Keat, Managing Director of the Monetary Authority of Singapore, Delivered at EMTA's Singapore Forum. 

October 26, 2006

Standard & Poor's Raises Bulgaria's Foreign Currency Rating to BBB+. 

October 25, 2006

EMTA, ISDA and FXC update Annex A to the FX and Currency Option Definitions with an updated rate source definition for the Indian Rupee and a new rate source definition for the Philippine Peso. CLICK HERE for the Annex A updates. EMTA, SFEMC and the FXC issue updated PHP Template Terms for Non-Deliverable FX Transactions.  CLICK HERE  for the updated Template Terms. EMTA issues FX and Currency Derivative Market Practice No. 41 in connection therewith. CLICK HERE for EMTA’s Market Practice No. 41.

EMTA Advisory Regarding Venezuela Oil Obligations and Their Related Payments. 

October 18, 2006

EMTA's Focus on Africa: The Nigerian Financial Markets to Be Held on November 9, 2006. Click Here to Register.

October 17, 2006

Moody's Upgrades Slovakia's Foreign Currency Bond Rating to A1. 

October 16, 2006

Special Presentation on Brazil’s Capital Markets  

  • Click Here to View the Presentation by ANDIMA

  • Click Here to View the Presentation by Banco Itaú S.A. 

  • Click Here to View the Presentation by Banco Pactual

  • Click Here to View the Presentation by Unibanco

  • Click Here to View the Presentation by CETIP

 

October 12, 2006

EMTA Special Seminar in London on "'Partial' Sovereign Restructurings and Their Implications” [Proceedings Subject to the Chatham House Rule]   

 

October 11, 2006

Nigeria to Redeem All of its Outstanding Brady Bonds - Fiscal Agent Notice. 

October 6, 2006

Calculations for Payments on Venezuela Oil Obligations Announced.  

EM Ltd. and NML Capital v. Argentina.  

Moody's Upgrades Romania's Long-Term Foreign Currency Rating to Baa3. 

October 5, 2006

EMTA Special Seminar on "Enforcement Under the Foreign Sovereign Immunities Act”:
 

 

October 4, 2006

Moody's Upgrades Credit Ratings on Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and the UAE. 

October 3, 2006

EMTA Forum in Hong Kong to Be Held on November 3, 2006. Click Here to Register.

October 2, 2006

EMTA Forum in Singapore to Be Held on November 1, 2006. Click Here to Register.

List of Live Auction and  Silent Auction  Items for EM Benefit to Be Held in London on October 6, 2006 Now Available.

Standard & Poor's Raises Argentina's Long-Term Foreign Currency Rating to B+. 

September 28, 2006

Stipulation Order in EM Ltd. and NML Suits Against Argentina.  

Standard & Poor's Upgrades Uruguay's Long-Term Foreign Currency Rating to B+. 

September 27, 2006

Holiday Schedule for EM Bond Trades for US Columbus Day Holiday.  

Moody's Upgrades Hong Kong's Foreign Currency Rating to Aa3. 

September 25, 2006

EMTA to Host Forum in Singapore on November 1, 2006. Dr. Heng Sweet Keat, Managing Director of the Monetary Authority of Singapore, will deliver the keynote address. Please CLICK HERE for more information.

EMTA to Host a Forum in Hong Kong on November 3, 2006. Please CLICK HERE for more information.

September 21, 2006

Save the Date for EMTA's Special Seminar “FOCUS ON AFRICA: The Nigerian Financial Markets” in London Sponsored by Standard Bank on November 9, 2006. 

September 20, 2006

EMTA to Hold a Special Presentation on “Brazil’s Capital Markets” in London on October 16, 2006. Click Here to Register.

EM Ltd. and NML Capital Suits Against Argentina Previously Under Seal. 

September 19, 2006

Emerging Markets Benefit to be Held in New York City on December 6, 2006. CLICK HERE for the Invitation. EMpower, NESST, Trickle Up and WaterPartners International are 2006 Beneficiaries.

September 18, 2006

Calculations for Payments on Mexico VRR's, Series E, Announced. 

September 15, 2006

EMTA's Third Quarter Bulletin is Now Available in our Bulletin Section.

Russian Ministry of Finance Announces Second Tranche of Former USSR FTO Debt Exchange Has Been Launched. 

September 14, 2006

MarketAxess, in Partnership with EMTA, to Hold Third Annual Charity Trading Day on Wednesday, September 27, 2006. Proceeds to Be Donated to EM Benefit Charities.  

EMTA Regrets the Passing of Andrei Kozlov and Extends Its Condolences to His Family and Colleagues. 

September 13, 2006

AF-Cap v. Congo Petition for Rehearing En Banc. 

September 12, 2006

EMTA to Host a Special Investor Seminar on "Enforcement Under the Foreign Sovereign Immunities Act” in NYC on October 5, 2006. Click Here to Register.

Moody's Upgrades Lithuania's Foreign Currency Rating to A2. 

September 11, 2006

EMTA Remembers.  

EMTA to Hold a Special Seminar on "'Partial' Sovereign Restructurings And Their Implications” in London Hosted by Clifford Chance on October 12, 2006. Click Here to Register.

September 7, 2006

Standard & Poor's Upgrades Vietnam's Long-Term Foreign Currency Rating to BB. 

September 6, 2006

EMTA Fall Forum in New York City to Be Held on October 19, 2006.  Click Here to Register.

September 4, 2006

Standard & Poor's Upgrades the Russian Federation's Long-Term Foreign Currency Rating to BBB+. 

August 31, 2006

Fitch Upgrades Peru's Foreign Currency Issuer Default Rating to BB+.  

Fitch Upgrades Romania's Foreign Currency Issuer Default Rating to BBB.  

Moody's Upgrades Brazil Foreign Currency Ceiling to Ba1. 

August 29, 2006

Fitch Awards B+ Foreign-Currency Issuer Default Rating to Jamaica. 

August 25, 2006

Second Circuit Decision in Kensington International Limited v. Congo. 

August 24, 2006

Fifth Circuit Decision in AF-Cap v. Congo. 

August 22, 2006

Standard & Poor's Upgrades Aries Rating to AAA Following Russian Paris Club Prepayment. 

August 21, 2006

EMTA Announces 2Q 2006 Debt Trading Volume Stood at US$1.659 Trillion.  

Venezuela Oil Obligations Record Date of September 29 and Payment Date of October 16 Expected. Trades are "Ex-Dividend" on September 27. Calculations for Payments on the Oil Obligations will be Announced by the Fiscal Agent Shortly.

August 17, 2006

Fitch Revises Ratings Methodology, Upgrades 40 Countries. 

August 16, 2006

Holiday Schedule for EM Bond Trades for UK Summer Bank and US Labor Day Holidays. 

August 15, 2006

Nigeria Payment Adjustment Warrants Certificate Evidencing Payment Adjustment Rights. 

August 9, 2006

EMTA Special Seminar on "'Partial' Sovereign Restructurings and their Implications" hosted by Clifford Chance to be held in London on October 12, 2006.  

Switzerland and the U.S. Sign Hague Securities Convention. 

Mexico VRR, Series E, Record Date of September 15 and Payment Date of October 2 Expected. Trades are ‘Ex-Dividend’ on September 13. Calculations for Payments on the VRR's will be Announced by the Fiscal Agent Shortly.

August 4, 2006

Standard & Poor's Downgrades Belize's Long-Term Foreign Currency Rating to CC. 

August 3, 2006

FG Hemisphere Associates v. Congo: Amicus Curiae Brief by National Union Fire Insurance Company of Pittsburgh, PA. 

August 2, 2006

Belize Announces Debt Rearrangement.  

Letter from Belize's Prime Minister Regarding Formation of Creditors Committee. 

August 1, 2006

Fitch Upgrades Argentina's Ratings on Performing Foreign Currency Debt Issued Under Foreign Law to B-. 

July 31, 2006

Russian Ministry of Finance Announces Second Tranche of Former USSR FTO Debt Exchange. 

July 27, 2006

World Bank Arbitration Tribunal (ICSID) Decision in Azurix Corp. v. Argentina.  

Barboni et al v. Argentina.  

Standard & Poor's Upgrades People's Republic of China Long-Term Rating to A. 

July 26, 2006

EMTA Market Practice Recommendation Regarding Venezuela Oil Obligations and Their Related Payments. 

Standard & Poor's Upgrades Indonesia's Long-Term Foreign Currency Rating to BB-. 

July 25, 2006

FG Hemisphere Associates v. Congo Petition for Panel Rehearing and Petition for Rehearing En Banc.  

Fitch Upgrades Russia's Foreign Currency Rating to BBB+.  

July 21, 2006

Emerging Markets Benefit to Be Held in London on October 6, 2006. Please Contact Elaine Skinner-Reid (elaine.skinner-reid@rbccm.com), Jonathan Murno (jmurno@emta.org) or Emma McClintock (emcclintock@bluebayinvest.com) for Tickets and Additional Information.

July 17, 2006

Standard & Poor's Upgrades Guatemala's Long-Term Foreign Currency Rating to BB. 

July 16, 2006

Moody's Upgrades Chile's Foreign Currency Rating to Baa1. 

July 14, 2006

EMTA to Host a Special Seminar on "'Partial' Sovereign Restructurings and Their Implications: Enforcement Under the Foreign Sovereign Immunities Act” in New York City on October 5, 2006.  

Fifth Circuit Decision in FG Hemisphere Associates v. Congo. 

July 10, 2006

EMTA Issues New Market Practice Recommending Standard Terms for Chilean Peso, Colombian Peso and Peruvian Sol Non-Deliverable FX Transactions. CLICK HERE for FX and Currency Derivative Market Practice No. 40.

EMTA's Special Presentation on “Brazil’s Capital Markets” in London on October 16, 2006. 

June 28, 2006

Fitch Upgrades Brazil's Long-Term Foreign Currency Rating to BB. 

June 21, 2006

Holiday Schedule for EM Bond Trades for US Independence Day Holiday.  

June 19, 2006

Calculations for Payments on Mexico VRR's, Series D, Announced. 

June 16, 2006

Calculations for Payments on Uruguay VRR's Announced. 

June 15, 2006

Standard & Poor's Lowers Long-Term Rating on Hungary to BBB+. 

June 14, 2006

EMTA's Second Quarter Bulletin is Now Available in our Bulletin Section.

June 13, 2006

EMTA Annual Summer Forum in London to be Held on July 6, 2006. Click Here to Register.

June 12, 2006

UK Court of Appeals Decision in Essar Steel Limited v. The Argo Fund Limited. 

June 7, 2006

EMTA Special Seminar on "'Partial' Sovereign Restructurings and Their Implications”:

 

June 5, 2006

EM Ltd. v. Argentina. 

June 2, 2006

Panama to Redeem all Par, Discount, Interest Reduction and PDI Bonds - Fiscal Agent Notice. 

June 1, 2006

Mexico VRR, Series D, Record Date of June 15 and Payment Date of June 30 Expected. Trades are ‘Ex-Dividend’ on June 13. Calculations for Payments on the VRR's will be Announced by the Fiscal Agent Shortly.

May 31, 2006

Uruguay to Redeem Series A Fixed Rate Notes - Fiscal Agent Notice. 

May 25, 2006

EMTA Announces 1Q 2006 Debt Trading Volume Stood at US$1.631 Trillion. 

May 24, 2006

Moody's Raises Foreign-Currency Country Ceilings Reflecting Revised Methodology. 

May 17, 2006

EMTA Issues FX and Currency Derivative Market Practice No. 39 Clarifying Adjustments to the Settlement Date for Non-Deliverable FX Transactions.

Holiday Schedule for EM Bond Trades for US Memorial Day and UK Spring Bank Holidays.  

Moody's Upgrades Bosnia and Herzegovina's Foreign Currency Rating to B2. 

May 16, 2006

EMTA to Host a Special Seminar on "'Partial' Sovereign Restructurings and Their Implications” in New York City on June 7, 2006. Click Here to Register.

May 12, 2006

Special Presentation on Brazil’s Capital Markets 

  • Click Here to View the Presentation by ANDIMA
  • Click Here to View the Presentation by Banco Pactual S.A.
  • Click Here to View the Presentation by Banco Votorantim S.A.
  • Click Here to View the Presentation by Banco Itau, S.A.
  • Click Here to View the Presentation by CETIP

EMTA and ANDIMA Collaborate to Facilitate Foreign Investment in Brazil's Local Capital Markets. 

May 5, 2006

Fitch Upgrades Dominican Republic Long-Term Foreign Currency Rating to B. 

Updates Made to the 2005 Barrier Option Supplement. 

May 1, 2006

Fiscal Agent Notice Regarding May 15, 2006 Payment on Nigeria Payment Adjustment Rights. 

April 26, 2006

Philippines to Redeem Interest Reduction Bonds – Fiscal Agent Notice. 

April 24, 2006

Southern District Court Decision in Libancell v. Lebanon.  

EMTA Summer Forum in London to be Held on July 6, 2006. Details TBA.

April 19, 2006

Holiday Schedule for EM Bond Trades for UK May Day Bank Holiday. 

April 13, 2006

Venezuela to Redeem Par and Discount Series B Bonds - Fiscal Agent Notice. 

April 12, 2006

EMTA to Hold a Special Presentation on “Brazil’s Capital Markets” in New York City on May 12, 2006. Click Here to Register.

Press Release Issued by Lebanon's Finance Ministry Concerning Cancellation of Cash Portion of Eurobond Offer. 

April 10, 2006

Calculations for Payments on Venezuela Oil Obligations Announced.  

Ecuador to Partially Redeem 2012 Bonds - Fiscal Agent Notice; April 28 Record Date. 

April 7, 2006

Southern District of New York Decision in Kensington International Limited v. Societe Nationale des Petroles du Congo, BNP Paribas, et al. 

April 6, 2006

Texas District Court Decision in AF-Cap, Walker Int'l and Nat'l Union Fire Insurance Co. of Pittsburgh v. Congo and Congo Holdings Inc. 

April 5, 2006

Holiday Schedule for EM Bond Trades for Good Friday/Easter Monday Holidays. 

April 3, 2006

EMTA Issues FX and Currency Derivatives Market Practice No. 38 On Updating the Korean Won Rate Source Definition. 

March 31, 2006

Ivory Coast Press Release. 

March 29, 2006

EM Sovereign Bond Charts for Ecuador and Macedonia.

March 28, 2006

Venezuela Oil Obligations Record Date of March 31 and Payment Date of April 17 Expected. Trades are "Ex-Dividend" on March 29. Calculations for Payments on the Oil Obligations will be Announced by the Fiscal Agent Shortly.

March 27, 2006

Second Circuit Decision in Capital Ventures International v. Argentina.  

UK Court Decision in Essar Steel Limited v. The Argo Fund Limited. 

March 23, 2006 

EMTA Spring Forum in New York to be Held on April 20, 2006. Click Here to Register.

Standard & Poor's Upgrades Argentina's Long-Term Rating to B. 

March 17, 2006 

Venezuela to Redeem Par and Discount Series A Bonds - Fiscal Agent Notice. 

Calculations for Payments on Mexico VRR's, Series D, Announced and Revised Primer.

March 8, 2006

Brazil Redeems Remaining Brady Bonds. 

March 6, 2006

EMTA Market Practice Recommendation Regarding Nigeria Payment Adjustment Warrants.  

EMTA Issues FX and Currency Derivatives Market Practice No. 37 On Updating the Chinese Renminbi Rate Source Definition. 

March 2, 2006 

Italian Bondholder Association (TFA) Announces ICSID Proceeding Against Argentina (in Italian). 

March 1, 2006 

EMTA Spring Forum in New York to be Held in April. Date and details to be announced.

February 28, 2006

EMTA Winter Forum Sell Side Panel - Market Views on Key Variables for 2006.  

Standard & Poor's Upgrades Brazil's Long-Term Foreign Currency Rating to BB. 

February 25, 2006

Venezuela Announces Plans to Retire All Outstanding Par and Discount Bonds.  Click Here for Spanish Version

February 24, 2006

Southern District Court of NY Decisions in Suits Against Argentina by Greylock, Exposito and Colella and FFI Fund.  

German Court Decision Against Argentina: Press Release (German), Press Release (Unofficial Translation) and Judgment (Unofficial Translation). 

February 23, 2006

EMTA's First Quarter Bulletin is Now Available in our Bulletin Section.

Brazilian Treasury Statement on Brady Bonds. 

New Emerging Markets-Focused Rating Agency Announced: International Ratings Group. 

February 22, 2006

Revised Primers for Venezuela Oil Obligations and Nigeria Payment Adjustment Warrants. 

February 21, 2006

EMTA Announces 2005 Annual Emerging Markets Debt Trading Rises to US$5.485 Trillion.  

Mexico VRR, Series D, Record Date of March 16 and Payment Date of March 31 Expected. Trades are ‘Ex-Dividend’ on March 14. Calculations for Payments on the VRR's will be Announced by the Fiscal Agent Shortly.

February 16, 2006

Brazilian Government Issues Executive Order on Taxation. 

February 15, 2006

EMTA Announces Its Proposed Multilateral Netting Facility for Venezuela Oil Obligations.  

EM Sovereign Bond Chart for Iraq. 

February 8, 2006

Holiday Schedule for EM Bond Trades for US Presidents' Day Holiday. 

February 6, 2006 

Nigeria Assigned a BB- by Standard & Poor's. 

February 3, 2006 

Standard & Poor's Upgrades Venezuelan Long-Term Rating to BB-. 

January 30, 2006 

Nigeria Assigned a BB- Rating by Fitch. 

January 23, 2006 

Iraq Closes Restructuring Deal. 

January 19, 2006 

Greylock v. Province of Mendoza Second Circuit Affirmation of District Court Decision. 

January 18, 2006 

EMTA Winter Forum in London to be Held on February 28, 2006. Click Here to Register.

JP Morgan Announces Enhancements to GBI-EM Indices, Available at Month-End. 

January 12, 2006

Repatriation Proceedings Brought by Banco Central de Paraguay in U.S. Court. 

January 9, 2006

Iraq WI Confirmation Form for USD Notes Due 2028.  

Kensington International Limited v. Congo in UK Court Attachment Proceedings. 

January 4, 2006

Holiday Schedule for EM Bond Trades for Martin Luther King, Jr. Holiday. 

People's Bank of China Makes Further Changes to its Forex System. 

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