Brazil onshore structured note issuance expected to hit $500m per month

Brazil's onshore market for structured products opened with healthy issuance volumes in January, and bankers are hoping for turnover equivalent to $500 million every month

Onshore structured products issuance in Brazil could be worth the equivalent of $500 million a month in the second half of this year, according to market participants. Following the $80 million of product sales in January - the new market's first month of operation - bankers expect the issuance figures for February to be far higher.

Since the market opened, six banks have issued certificado de operações estruturadas (COEs), or structured operations certificates, including Bradesco, BTG Pactual