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Brazilian issuers look abroad in Q1

Apr 11, 2017

Cross-border issues climb to $10bn in the first three months of the year

Mick Bowen

Keywords: local bonds cross-border bonds debentures Anbima Brazil

Brazilian issuers sold $52.2bn ($16.7bn) in bonds in Q1 this year, a 139% jump on the same period in 2015, according to data from the local capital markets association Anbima.

Cross-border issues reached $9.95bn in the first three months of 2017, led by $1bn in bonds from the government, $750m from Marfrig, $300m from Suzano and $200m from Globo, Anbima said in a report.

Local debt sales totaled BRL12.6bn in Q1 this year, down from BRL13.2bn in the same quarter last year. Debenture issues slipped to BRL7.99bn in Q1 2016, with just BRL633m in tax-exempt infrastructure debentures, Anbima said.

Equity transactions came to BRL8bn in Q1, more than double the BRL3.19bn recorded in the same quarter in 2015. IPOs moved BRL1.52bn and follow-on offerings equaled BRL6.48bn in Q1 2016, Anbima said.

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