Emerging markets

JOINT WINNERS: BRAZIL, MEXICO

Brazil bookrunners: Banco Itau, Goldman Sachs, JPMorgan

Mexico bookrunners: CSFB; JPMorgan

Latin America led the way for innovative financing in emerging markets this year, with the most creative solutions being those that opened up the market for local currency-denominated securities, say buyers. "The best deals have been those that have focused on local markets in emerging debt," says David Dowsett, senior portfolio manager at BlueBay Asset Management in London.

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