Brazil's Banks Kept 82% of the Bonds They Were Meant to Sell

Credit

Key Facts

—The retention. The banks that arranged the deals kept 82.4% of the R$55bn ($10.7bn) of corporate bonds sold in the second quarter.

—The count. Sixty-two of 102 registered issues were absorbed entirely by the banks arranging them.

—The worst hit. Tax-free infrastructure bonds fell 57.6% in volume, with 89.1% left sitting on the banks’ own balance sheets.