First-Time Corporate Issuers to Double as Bond Yields Sink: Brazil Credit
- Escrito por Boris Korby and Camila Russo to bloomberg.com
The number of Brazilian companies selling dollar debt abroad for the first time may jump to about 15 this year, according to Itau Unibanco Holding SA, the second-largest underwriter of the country’s bonds in 2010 after Banco Santander SA. There were eight first-time offerings last year, according to data compiled by Bloomberg. Brazilian companies sold a record $36.7 billion of dollar bonds in 2010 as near-zero interest rates in the U.S., Japan and Europe fueled demand for the Latin American countries’ higher-yielding assets. “There’s a lot of appetite for new stories in Brazil and there are very few countries that have this combination of a huge appetite from investors and new companies ready to tap the market,” Joao de Biase, head of debt capital markets at Itau, Unibanco, said in a telephone interview from Sao Paulo.
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