Brazil debt sales to benefit from slower state bank disbursements
SAO PAULO Jan 14 (Reuters) - Brazilian local debt offerings will probably recover this year, driven by growing demand for infrastructure notes, as state-run banks slow the pace of corporate loan disbursements, said an official at the group representing Brazil's investment banking and asset management industries.
Strong lending practices by state banks partially crowded out bond and stock sales in local capital markets last year, said Marcio Guedes, a director at Anbima. Sales of fixed-income instruments such as notes, asset-backes securities and commercial paper fell 22 percent to 127.35 billion reais ($54.5 billion) last year, Anbima said.
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