Brazil

Brazilian logistics firm JSL returned to dollar markets on Monday to tap the 7.75% July 2024 notes it sold in its debut deal in July last year.

After Latin American issuers burst into the market in the first week of the year for the first time ever, Brazilian meatpacker Marfrig became the fifth company from the region to announce a roadshow and keep up primary market momentum.

Two Brazilian companies could tap international bond markets as soon as next week after announcing fixed income investor meetings.

Brazilian low cost airline Gol is set to buy back more bonds after investors owning $21.191m of its existing 9.25% 2020s agreed to sell their notes as part of a tender offer launched on December 14.

Brazilian low-cost airline Gol has announced its latest liability management efforts: a $50m tender offer for its outstanding 2020s and a redemption of three small bonds issued as part of a distressed debt exchange last year.

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 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.

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.

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.

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.

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.