Postado em: 07/11/2018
Brazilian firm Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados steered more equity transactions than any other Latin American firm between July and September, according to Latin Lawyer’s latest capital markets research.
Nineteen Latin American firms and five international outfits helped 23 Latin American companies raise US$3.3 billion. This marks a sharp decline in equity market activity. In June alone, Latin American companies issued US$3.1 billion in equity. Upcoming elections in the region’s largest economy Brazil, economic volatility in Argentina and rising interest rates in the US may all have contributed to the dip.
Mattos Filho worked on more than half of the deals sent to Latin Lawyer in Brazil, helping companies raise US$1.3 billion. The firm also landed a place as deal counsel on Bradespar’s 2.4 billion reais (US$616 million) issuance, which Banco Itaú underwrote. This was the second largest equity deal reported to Latin Lawyer over the three-month period.
Overall, Brazilian companies made equity taps worth US$1.4 billion in 13 deals. Demarest Advogados scored the second-highest deal count in Brazil, working on two transactions.
Four of the Brazilian deals included the creation of investment funds and their initial issuance of quotas. These type of issuances are sometimes considered separate from both debt and equity because they issue quotas rather than equity, but are still subject to Brazil’s securities and exchange commission’s rules. Demarest advised on two of these transactions, raising US$56 million, while Lefosse Advogados and Madrona Advogadosadvised on one each.
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