The first public offering of Brazil's latest financing tool
indicates the country's banks will soon have a new standardised
form of long-term finance.
Lawyers who worked on RCI Brasil's issuance of R$300 million
($188 million) letras financeiras, which closed on
August 16, said that although market practice is still
developing, all parties' conduct in the lead up to execution of
the deal suggest there is general agreemant on this new form of
"The market is still developing a sense of the...