Lat Am corps brush off covenant debate to jump on scarcity

By Oliver West
12 Jan 2017

Four private sector corporates from Latin America sold dollar denominated bonds this week, although borrower-friendly market conditions were not enough to allow the issuers to get away with more aggressive covenant language.

Raizen, Aerodom and Genneia on Thursday followed up Fibria Celulose’s successful issuance on Wednesday, with the four of them raising $1.85bn.

“Corporate supply was desperately slow from Latin America throughout 2016, and there was virtually no issuance at all from the region in the last two months of the ...

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