Brazilian issuers look abroad in Q1
Cross-border issues climb to $10bn in the first three months of the year as local issues lag behind last year's pace
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
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
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.