Brazil

The US business of Brazilian meatpacker JBS continued to improve its liquidity position with its second bond issue in April on Tuesday. It reopened three existing bonds as part of a liability management exercise.

Investors in steel producer Companhia Siderúrgica Nacional appear to care far more about the company’s ability to push out $1bn of imminent debt maturities than pricing intricacies. The Brazilian issuer had a far better time in primary markets on Wednesday than on its last outing.

Bond investors appeared relieved after Brazilian steel producer Companhia Siderúrgica Nacional (CSN) raised $1bn of new bonds to refinance debt maturing in the next year.

A varied menu of at least three Latin American borrowers could try to issue bonds on Wednesday, as the region’s issuance continues to catch up with last year’s numbers.

USJ Açucar e Alcool, the Brazilian sugar and ethanol company, is giving bondholders an extra two weeks to receive the early bird price in a debt exchange that Fitch says is likely needed to avoid default.

Brazilian steel producer Companhia Siderúrgica Nacional (CSN) is hitting the road ahead of a proposed new issue, just a month after investors told GlobalCapital that an impressive rally in the company’s debt made it a strong candidate to tap bond markets.

A bond market keen for duration welcomed pulp and paper producer Klabin’s dual-tranche offering this week, but a stormy atmosphere for Brazilian names put the new issue concession higher than recent deals as investors began to seriously doubt the country’s economic prospects.

Klabin, the Brazilian pulp and paper company, returned to bond markets on Wednesday, taking advantage of a flattening yield curve to issue its first long bond, despite a bad day for Brazilian assets.

Brazilian pulp and paper company Klabin will make a second attempt to access bond markets in four months as it looks to buy back as many of its outstanding 2024s as possible

Latin American borrowers can look forward to a continuation of supportive funding conditions thanks to the dovish turn of the Federal Reserve, according to a new report from Moody’s.

Brazilian airline Gol Linhas Aéreas Inteligentes sold a rare exchangeable bond on Thursday after receiving demand from a combination of convertible arbitrage funds, EM bond managers and the long-only equity community, GlobalCapital understands.

Brazilian government-owned oil company Petrobras will repurchase nearly half of its 2023s after wrapping up the first stage of a tender offer that could total $4.5bn.