Dollars Trump Euros for Bond Issuers

Dollars Trump Euros for Bond Issuers


Recent deals from Votorantim and Vale have bankers pitching LatAm bond issuers to attack euro-denominated markets, but larger European-based investors doubt this will become a serious trend. "Liquidity is to be found only in the dollar market," says Jean-Dominique Butikofer, head of EM fixed-income at UBP. Despite that, the euro-denominated market has open and shut many times, he explains. And it can offer attractive diversification and funding costs for issuers, but not great value for investor

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial