Brazilians fill pockets as investors endure late LatAm flurry

Brazil Carnival 230px
By Oliver West
07 Dec 2017

EM bond investors’ hopes of a quiet end to the year were dashed by Brazilian issuers seizing the chance to clinch financing ahead of next year’s presidential elections as four credits from Latin America’s largest economy issued in dollars this week.

Brazil’s share of LatAm issuance had already shot up to way over 20% year-to-date, having slumped to below 10% in 2015 and got stuck at 15% last year. But the post-Thanksgiving rush that began with Cemig and Votorantim last week and continued with Minerva, Itaú, Gol and BTG ...

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