Brazil
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Brazil’s largest private sector bank, and probably the most robust lender in the country, jumped on a wave of enthusiasm for Brazilian credit to raise $1.25bn of additional tier one capital on Tuesday. -
Brazilian airline Gol returned to bond markets in style on Wednesday — just 18 months after a distressed debt exchange — as investors bought into the company’s turnaround story.
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Two Latin American borrowers look set to price dollar deals on Thursday as issuance volumes in an already record year for the region’s cross-border bond markets get bigger by the day.
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Meatpacker Minerva sold $500m of long 10 year notes on Tuesday to keep Brazilian high yield supply ticking over on a busy day for LatAm new issuance.
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Brazil’s largest private sector bank jumped on strong momentum for Brazilian credits to sell $1.25bn of Basel III-compliant additional tier one bonds on Tuesday.
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Brazilian bank BTG Pactual will buy back 30% of its existing perpetual bonds after strong participation by affiliates of the lender that hold the notes.
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Brazil’s largest private sector bank Itaú is set to price its first Basel III-compliant hybrid perpetual note on Tuesday after setting initial price thoughts that bankers away from the deal described as “promising” for the borrower.
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Brazilian meatpacker Minerva will wrap up investor calls on Tuesday as it plans a deal to finance a tender offer for existing bonds.
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Banco Votorantim kicked off a run of issuance from Brazilian banks with a Basel III-compliant additional tier one perpetual non-call five deal on Thursday.
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Brazilian utility Cemig on Thursday notched up $1bn of seven year money well inside the expectations of many market participants, as bankers said LatAm funding conditions were as strong as ever.
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Brazil’s largest airline, Gol, is set to return to bond markets boasting five consecutive quarters of positive cash generation just a year and half after a distressed debt exchange on which some bondholders took a hefty haircut.
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Brazilian low cost airline Gol will look to raise between $350m and $550m of new seven year notes as part of a liability management exercise, less than 18 months after a distressed debt exchange.
