LatAm Bonds
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Rede D'Or rode over investor concerns about the health of Brazilian corporates, while Edenor landed its first benchmark bond -
Books for the jumbo €5bn deal were more than three times subscribed
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Brazil is preparing its first visit to the euro market in over a decade
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First trade from a LatAm corporate since the outbreak of war in the Middle East
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Fondo Mivivienda restarts issuance, but is not the best read across for most LatAm issuers
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Issuers struggle over what concessions investors will require
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Issuance in March was never going to be hefty after a record start to the year
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Government borrowing costs are rising on local and international markets, and credit ratings are falling
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Sovereign also added $300m to a long-dated dollar note
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The country will use all the money raised for liability management
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Sovereign left little, if anything, on the table for investors
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The sovereign is ramping up overseas issuance, plans to branch out into new currencies
