Credit Blowups in Brazil Are Scuttling Corporate Bond Deals (1)

Brazil’s credit flareups are driving up borrowing costs and spooking investors, forcing companies in Latin America’s largest economy to scrap or scale down their plans to tap the debt market.

Companies’ issuance of hard-currency bonds fell by more than half in October compared to the same period last year, according to Bloomberg-compiled data. Those that have seen borrowing plans upended include CSN, which shelved a deal to refinance its 2028 dollar bonds in September. A debut bond for Vamoscame in costlier than estimated last month, with investors demanding a higher yield even as it cut the offering size ...