Brazil: Market loses some of its glitter

Investors show signs of nerves; But perps bond market gets boost

“The sentiment towards Brazil is very high at the moment. The Santander IPO doesn’t represent the peak of the market – there are still many other equity deals in the pipeline. We are already pitching companies to go public in the second quarter of 2010,” says Evandro Pereira, head of capital markets at BTG Pactual.

the size of Santander’s Brazilian IPO, the biggest this year

On October 6 Santander priced its Brazilian unit’s IPO. Santander and Credit Suisse led the deal with BTG Pactual and Bank of America Merrill Lynch.

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