A flurry of Latin American perpetual bond issuance is expected in the fourth quarter, following a $500 million bond for Brazilian construction and engineering company Odebrecht. Bankers close to the deal are confident that Odebrecht could kick-start further issuance of up to $2 billion before the end of the fourth quarter. Predictions for 2011 and beyond are for a possible resurgence of perpetual bond issuance in which up to 100 Latin American corporates will take part.
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“It was very quiet in 2008 and most of 2009 after some good volumes between 2005 and 2007, and then in October 2009 the $1.5 |
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