November 14, 2016 |
Solid market conditions encouraged a range of borrowers into the bond market in September and early October, and more are expected to take advantage before year-end. Some anticipate the market will shut down as soon as early December as investors look to book a strong year of gains and avoid further risks.
Concerns about the US Federal Reserve’s next move and the US Presidential election continue to spark volatility, and that has taken its toll on some borrowers. Brazil’s Ouro Verde, rated BB- by Fitch, stepped back from the market in September after targeting a $300 million 2021 cross-border debut. It is understood to be seeking the cash in the local market instead.
Mexican borrowers have
Debt capital markets are expected to maintain pace for another few weeks, but may shut up shop for the year early.