Bond sales 'signal increasing investment in Brazil'
Date added: 15th June, 2010 at 10:19
(view all articles from June, 2010)
Categories: Economy
Investment in Brazil may rise as five companies plan bond sales worth around R$4 billion (£1.49 billion).
Hypermarcas SA and Itausa - a consumer products manufacturer - and Investimentos Itau SA - the parent firm of the nation's largest bank respectively, are two of the businesses preparing for the transactions, in a move which indicates the local bond market may be recovering following its slowest month since February, according to Bloomberg Business Week.
Worry that the European financial crisis could affect the economic expansion of Brazil is ebbing - a concern that saw no bond sales in the first two weeks of this month and only R$1.4 billion worth in May, compared with an average of R$6.8 billion in the preceding two months.
Lauro Campos, superintendent of credit at SulAmerica Investimentos, told the news provider: "You have a local market that's heating up a little more and so we're seeing these issues."
JP Morgan Asset Management recently announced its intention to create the first Global Emerging Markets Income Trust for investment in Brazil, stating that the country is now offering consistent returns.
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