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Brazil

The Latin American Political Landscape in 2019: The Good, The Bad and The Ugly

Americas Market Intelligence’s John Price takes stock of last year’s hectic election cycle in Latin America and looks more closely at the fortunes of some of the region’s key markets: Brazil, Mexico and Venezuela.

CASE STUDY: How the Suzano-Fibria Megamerger Was Financed

One of the biggest M&A deals in recent emerging market history, the Suzano-Fibria merger, saw a correspondingly complex and impressive financing scheme that involved a USD9bn syndication, split between a bridge loan and pre-export financing, which culminated in a billion-dollar bond issuance. The acquisition allowed to create a pulp giant with a 17% share of the global market.

Brazil: The So-Called Libertarian Agenda

XPI's Zeina Latif compares Jair Bolsonaro to Brazil's past leaders - and sees a libertarian streak that, given the right approach, lift the economy out of the doldrums.

Brazil: Beware of the Pitfalls Macron and Macri Could Not Navigate

As the new administration begins to enact its economic vision, Zeina Latif warns the Bolsonaro-appointed finance minister Paulo Guedes that a half-measure approach could undermine the fiscal rebalancing of Brazil.

Brazil: Nothing Is as Simple as It Seems

For many in Brazil, the appointment of Sérgio Moro to the Ministry of Justice was a great move – particularly from a political standpoint. The judicial class, however, seems to be more critical. As ever, reality is likely to be found somewhere in between.

Brazil SWOT Analysis: Cautious Optimism

A closer look at the major strengths, weaknesses, opportunities and threats influencing the investment and debt capital markets climate in Brazil.

Brazil: The Key Word is Focus

Zeina Latif, Chief Economist for XPI, calls for the incumbent Bolsonaro administration to revise its economic priorities.

GrowMax CEO on Risk: Perception vs. Reality

Leading fertiliser and specialist nutrient producer GrowMax Resources Corp recently announced plans to bolster its presence in Brazil through an acquisition of Fertimar, part of a wider effort to pivot into complimentary business areas and completely reinvigorate the company’s balance sheet and management. Bonds & Loans speaks with Stephen Keith, CEO of GrowMax Resources Corp about that corporate revitalisation, managing risk while building businesses and projects in the Americas, and the direction of the commodity fertiliser market.

Suzano CFO on ESG: “This trend will not be reversed, and we see Brazil becoming a key part of it”

Leading Brazilian pulp and paper producer Suzano Papel e Celulose helped pioneer the country’s green bond market with the first green agricultural receivables security, or CRA, and a number of transactions on the international capital markets. The company’s CFO, Marcelo Bacci, an ardent supporter of ESG-focused investing, talks to Bonds & Loans about why the company decided to engage the sustainable finance segment despite no immediate price or funding size benefits in sight.

Brazil: Who is Going to Foot the Bill?

In recent years, many state governors in Brazil avoided the necessary adjustment of public accounts, largely down to the intense election calendar. For some, the calculation went wrong and the public response came through the ballot boxes.

 

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