09/17/2023 – 20:11
The Minister of Finance, Fernando Haddad, informed that the Brazilian government concluded the first presentation to investors, a roadshow in market jargon, of the issuance of sustainable debt securities, the so-called green bonds, from Brazil, which will debut in this type of funding . 36 meetings were held and were attended by around 60 international investors, including names from the United States and Europe.
Haddad expressed optimism about the appetite of international investors in an interview with journalists in New York. According to him, the ministry is now entering a “silent period” and can no longer comment on the details of the issue. He did not want to specify a date or an amount.
According to the minister, these are decisions that are up to the National Treasury, signaling that the operation depends on market conditions to be carried out. Behind the scenes, the expectation is that the Brazilian government’s issuance will be in the order of US$ 2 billion and will occur by mid-November this year.
The meetings with investors were held by the future deputy secretary of the Ministry of Finance, Rafael Dubeux. “We had very positive signals. We did the so-called Non-Deal Roadshow, so there was no agreement reached in the conversations, there was no definition of specific values, but we can say that there was a very large interest from investors”, he said, alongside Haddad, in Nova York.
According to Dubeux, investors have shown interest not only in the ecological transformation plan that Brazil is implementing, but also in the sustainable bond framework that Brazil has designed.
The banks that will advise the Brazilian government have also been hired. According to the Treasury confirmed to the Broadcast (Grupo Estado’s real-time news system), are the North American JPMorgan, Santander and Itaú Unibanco.
As shown by the Broadcast Last Friday, however, investment banks moved to try to enter the Brazilian government’s issue, which will mark the debut on the green bond market.
Above all, the criteria used to choose financial advisors weigh heavily: the banks best positioned in the capital market rankings. Now, those left out are trying to join the banking union.
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