Brazil Miner Lifts Euro Financing Hopes

Brazil Miner Lifts Euro Financing Hopes

Europe

Vale’s success in the euro market this week fuels expectations of more LatAm bond deals to come from Europe. “This deal shows that the euro market is open and there’s a very attractive basis swap,” says a banker on Vale. The Brazil-based miner raised EUR750m in 8-year money but could easily have secured double that for a 10-year, say bankers on the trade. An order book exceeding EUR8bn highlights robust appetite for LatAm credit from an investor base looking to diversify. However, demand will li

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