Brazil

Petrobras made clear its desire to buy back as much of its 8.375% notes due 2018 as possible on Wednesday after extending final deadline of a tender offer for the notes for a second time.

Eight corporates and one sovereign raised international bonds from Latin America this week as overwhelming technicals, a newly dovish US Fed and fears of post-Brexit trauma led the region’s borrowers to flock to markets.

Brazilian pulp producer Eldorado Brasil Celulose is hoping to become the first debut issuer from the country since November 2014 after announcing initial price thoughts of high 8%.

Latin America DCM bankers said that Vale had timed its return to bond markets to perfection after the Brazilian mining giant pounced on the huge rally in Lat Am credit that followed disappointing US non-farm payroll on Friday.

Industrial conglomerate Cosan will be hoping market conditions do not turn against it for a third time after it launched a tender offer and announced investor meetings ahead of a possible new bond.

The Argentine province of Córdoba is looking to sell a five year bond inside its provincial peers and only just wide of the City of Buenos Aires after announcing initial price thoughts of mid 7% for a new five year dollar benchmark.

Brazilian state owned oil company Petrobras has intensified its efforts to persuade holders of its 8.375% 2018s to part with their paper, increasing the price it is willing to pay for the notes from 107.875 to 110.

Brazilian state owned oil company Petrobras has intensified its efforts to persuade holders of its 8.375% 2018s to part with their paper, increasing the price it is willing to pay for the notes from 107.875 to 110.

Brazilian pulpmaker Eldorado Brasil Celulose is understood to be planning to meet fixed income investors as soon as this week ahead of a $500m debut international bond sale.

Brazilian meatpacker Marfrig increased the size of a new bond by 50% and still saw it trade two points above reoffer the day after pricing this week as Lat Am syndicate bankers said they were lining up more corporate issuance from beleaguered Brazil.

Meatpacker Marfrig increased the size of the its new seven year non-call three bond from $500m to $750m to send a message that, in the case of certain issuers at least, Brazil is back.

Derivatives traders this week took the resignation of Brazilian planning minister Romero Juca in their stride, leaving key measures of risk largely unchanged.