Latin American Credit Research

Elqui Bond ResearchBonds explained clearly.

Independent, evidence-led credit research on Latin American corporate and financial debt, written for European wealth managers, family offices and professional investors.

Supplied as an analytical input into your own credit process.

10+
years buy-side credit experience
LatAm
Chile · Peru · Colombia · Mexico · Brazil · Argentina · Paraguay
IG + HY
investment grade and high yield
Independent
no issuer, bank or desk ties

The model

Why Elqui Bond Research

  • Independent

    No ties to issuers, banks or trading desks.

  • Traceable

    Every claim linked to a filing or primary data point.

  • Analytical input

    Credit research only. Not advice and not a rating.

  • Direct access

    A conversation with the analyst, not a sales desk.

Services

Analytical services, quietly rigorous

Six services, each built from the same independent, bottom-up work.

01

Initial Credit Dossier

A full, bottom-up analysis of an issuer and one of its bonds, concluding in a single narrative credit view.

  • Business profile, industry position and governance
  • Adjusted financials, leverage and liquidity
  • Capital structure and covenant analysis across the debt stack
  • Central, Optimistic and Downside scenarios, valuation and recovery
02

Quarterly Earnings Insights

Each results release of a covered issuer, read against its dossier, in up to five pages.

  • The quarter and LTM against the prior quarter and prior year
  • Results against the Central, Optimistic and Downside cases
  • Critical points and monitoring signals re-tested
  • The bond's valuation at the market data date
03

Credit Snapshot

A two-page credit review of an issuer and its bonds, for a quick, structured first read.

  • Business profile, financial summary and credit metrics
  • Bonds outstanding, liquidity and maturity profile
  • Covenants, guarantee and collateral
  • Five strengths, five risks and dated signals
04

Financial Model in Excel

The fundamental model behind each Credit Dossier.

  • Quarterly history from the issuer's own filings
  • Central, Optimistic and Downside scenarios
  • Leverage, coverage and liquidity metrics by year
  • Every chart in the Credit Dossier, editable
05

Executive Report

The key insights of a Credit Dossier, in up to ten pages.

  • Same chapters as the Credit Dossier, in condensed form
  • Published on the same date as the Credit Dossier
  • Notes trace each figure to its primary source
  • Points to the Credit Dossier for the full reasoning
06

Analyst Calls (Premium Plus)

Direct conversations with the analyst for Premium Plus subscribers.

  • Go through the issuers we cover and test your questions
  • A closer working relationship with the analyst
  • Suggest issuers for future coverage
  • On our published analysis, not investment advice

Approach

An evidence-led method, applied consistently

  1. 01Financing purpose and capital structure: why the debt exists
  2. 02Qualitative analysis: industry, strategy, governance, ESG and country risk
  3. 03Financial statement analysis: adjusted earnings, cash flow, leverage
  4. 04Forecasting and scenario analysis: Central, Optimistic and Downside cases
  5. 05Corporate valuation and recovery: multi-method TEV range
  6. 06Structuring and documentation review: covenants, seniority, collateral
  7. 07Credit assessment and analytical write-up for the investment committee

Quantitative and AI workflows widen coverage and reinforce consistency. Credit judgement remains human, and the investment decision always remains with the client.

Coverage

Latin American Corporate Debt in focus

Corporate and financial issuers across Latin America, with focus markets listed below. We take subscribers' suggestions into account when we plan new coverage, without commitment.

Region
Latin AmericaChilePeruColombiaMexicoBrazilArgentinaParaguay
Market Sectors
CorporatesFinancials
Debt Ranking
Senior SecuredSenior UnsecuredSubordinatedHybrid
Quality
Investment GradeHigh Yield
Currencies
USDEUR

Pricing

Plans and prices

  • All prices are in euro and exclude VAT.
  • The service is sold to professional market participants only.
  • The trial is optional and available on Basic only. It lasts 15 days, or ends earlier once the whole allowance is used, then converts to Basic monthly at €79 per month plus VAT.
  • To start the trial or buy a plan you complete the professional client declaration. The service is not sold to retail investors.

Trial

Free15 days, then Basic monthly

Credit Snapshots
5
Executive Reports
3
Credit dossiers
1 (archive)
Quarterly Earnings Insights
No
Articles
Yes
Financial models
No
Analyst calls
No
Start your trial

Basic

€79per month, excluding VAT

Credit Snapshots
Unlimited
Executive Reports
Unlimited
Credit dossiers
1 per month
Quarterly Earnings Insights
No
Articles
Yes
Financial models
No
Analyst calls
No
Subscribe

Premium

€199per month, excluding VAT

Credit Snapshots
Unlimited
Executive Reports
Unlimited
Credit dossiers
Unlimited
Quarterly Earnings Insights
Yes
Articles
Yes
Financial models
Yes
Analyst calls
No
Subscribe

Premium Plus

€299per month, excluding VAT

Credit Snapshots
Unlimited
Executive Reports
Unlimited
Credit dossiers
Unlimited
Quarterly Earnings Insights
Yes
Articles
Yes
Financial models
Yes
Analyst calls
Included
Subscribe

Price changes apply from your next renewal, with at least 30 days' notice by email.

About

Founder

Marco Lantermo, founder of Elqui Bond Research
Marco Lantermo · Founder

Elqui Bond Research publishes Latin American credit analysis, written to institutional standards, for wealth managers, family offices, financial advisers and professional investors. Founded by Marco Lantermo, a Luxembourg-based credit analyst with over a decade of buy-side experience, the firm produces independent, unconflicted research on Latin American corporate and financial debt.

He built his career in institutional fixed-income teams covering investment-grade and high-yield debt, and now brings that front-office experience directly to the independent wealth sector.

Chilean-Italian, based in Luxembourg, fluent in five languages. Master's in Data Science (University of Bologna, Italy), BBA and Master's degrees in Economics and Financial Management (Universidad Adolfo Ibáñez, Chile).

LinkedIn profile →

Contact

Start with a direct conversation

Tell us in a few lines which issuers or sectors matter to your practice. You receive a direct reply from the analyst. Enquiries are handled as requests for information about the research service, not as requests for investment advice.

Briefly describe the issuers or sectors you follow. Please do not include portfolio holdings or personal financial details.

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