Market Trouble Threatens Infra Debenture Plans

Jul 11, 2013

Challenging market conditions are pushing back the Brazilian debenture issuance pipeline, with Oi and Comgas electing to postpone infrastructure debenture transactions. The two blue-chip issuers have been expected to add weight to the budding infrastructure debenture asset class, which recently saw Rodovias do Tiete complete a BRL1.07bn ($473m) 2028 bond, though the inflation-linked deal came at the wide end of expectations. Oi has put a BRL800m deal on hold, having to make...

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