Turmoil threatens equity pipeline

Turmoil threatens equity pipeline


The threat of a hike in US interest rates and subsequent EM selloff has meant a rest for LatAm’s busy debt capital markets. A heavy equity pipeline has filled up for the June-July window, with issuers eager to get out while they can. It is now clear not all will make it. The poor market conditions, along with an aggressive valuation and poor news coming out of Brazil, have derailed the ambitions of Votorantim Cimentos. The unit of the Votorantim conglomerate had been targeting 8 billion

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