Brazilian issuers turn to short-term sales

Brazilian issuers turn to short-term sales

Debenture Capital Markets Debt Fixed Income Corporate & Sovereign Strategy Rule 476 Brazil Latin America Coronavirus

A number of Brazilian companies have announced plans to raise funds in the local bond market, but they are shying away from long-term issues and opting for shorter dated deals, according to filings with the local securities regulator CVM. Local conglomerate Ultrapar said on Tuesday that it will issue BRL1 billion ($190 million) in one-year promissory notes at the DI interbank lending rate plus 3.1% and added that its subsidiary Ipiranga, the second largest fuel distribution company in Brazil, wi

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