Brazil
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New issue concession estimates range from 0bp to 15bp -
Brazilian stock exchange operator is looking to debut in international bond markets
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Brazilian pulp producer lands sustainability-linked bond inside conventional curve
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David Flechner returns to law firm after three years and will split time between São Paulo and New York
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Brazilian oil giant’s net debt to Ebitda ratio is at lowest level since 2011
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Market participants say EMIA’s “enhanced” principles may be onerous for issuers
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The Emerging Markets Investor Alliance, a non-profit comprising several major EM asset managers, will release “enhanced” principles for green, social, sustainable and sustainability-linked bonds on Thursday in response to what it sees as a “loss of confidence” in the labelled bond asset class.
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Oi, the Brazilian telecom company, re-entered international debt markets this week to raise almost $1bn of short-dated paper.
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Continued strong inflows into emerging markets debt funds are encouraging riskier Latin American companies to turn to debt markets for funding — even as political risks weigh heavily on the outlook for certain credits. While some buyers think they are picking up rare bargains, others are concerned that they’re becoming overexposed to the region.
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LatAm bond buyers said that MC Brazil Downstream Trading’s debut bond issue on Tuesday had offered a rare chance to pick up yield in large size, as the company’s $1.8bn 10 year was spotted a point and a half higher in the grey market after pricing.
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After Brazilian pulp and paper producer Suzano became the first Latin American company to issue a second sustainability-linked bond, its treasury director told GlobalCapital he expects investors to differentiate more and more between SLB issuers based on the issuer’s ESG credentials.
