More Brazilian corporates have announced plans to tap the local bond market, teeing up debenture issues totaling BRL2.6 billion ($507.8 million)
Brazilian Comerc Energia is leading the way with a deal to raise BRL600 million for investing in solar plants. BTG Pactual is coordinating the deal, while Itaú BBA is the joint bookrunner.
Fellow power company Equatorial Maranhão plans to raise BRL500 million in a deal that’s being coordinated by Bradesco BBI with Daycoval as joint book runner.
Brazilian sugar and ethanol producer Jalles Machado detailed plans to issue BRL400 million worth of debentures. It intends to price the 2024 notes at 6.15%, or at 0.4% over the government’s inflation-linked notes due 2033, whichever is greater.
Jalles Machado said the issue is equivalent to a quarter of its budget for ongoing investments in sugarcane and ethanol production, according to minutes of a board meeting released late Friday.
Finally, Spanish-controlled infrastructure company Arteris is reportedly planning to sell BRL1.1 billion worth of debentures to pay down debt at its Intervias subsidiary. Arteris is expected to price 2025 notes at the DI overnight rate plus 0.9% in a deal coordinated by Itaú BBA, according to newspaper Valor Econômico.