Brazilian Issuers Meet Investors

As DCM activity begins to return, more issuers are hitting the road, with Brazil’s CSN and Banco Mercantil do Brasil planning to meet investors next week on a “non-deal” basis. The Ba1/BB+/BBB minus steelmaker last issued in September for $750m. It will tour with Banco do Brasil, HSBC, Itau, Morgan Stanley and Santander. Investors expect a sizeable deal if the meetings go well and global markets remain calm. Mercantil, rated Ba2, will also meet investors next week with Bank of America Merrill Lynch and Santander. The lender last issued in 2007 for $175m.