COVER STORY: A new direction for investment banking

COVER STORY: A new direction for investment banking

Bonds Features

Brazilian meat exporter Minerva Foods has been a regular issuer of dollar-denominated bonds for several years. Company executives speak to international investors frequently, and while the borrower has never been one of Latin America’s largest, it has dabbled in innovative structures, such as perpetual instruments. This year, that is set to change. “We simply do not need the cash,” chief financial officer Edison Ticle told LatinFinance when asked about bond issuance plans for 2016. The company is unlikely even to tap local debt markets, he said. Trade finance lines are a much cheaper form of financing when the company does need liquidity, Ticle added. Brazil’s weakening currency has proved a

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