Brazilian Lender Raises Bond Debut

Brazilian Lender Raises Bond Debut

Brazil Bonds

Caixa Economica Federal has priced a $1.5bn bond issue, offering investors long-awaited access to the expanding government-owned bank, as well as rare 5-year Brazilian investment-grade paper. “There is little Brazil debt in the 5-year space that brings value to us, and with Caixa we’re getting access to a reasonable size position that gives us the opportunity to own something that is owned by the federal government,” says a participating London-based EM portfolio manager. Starting out with low 2

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