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Brazil Political Risk Slows M&A, Speeds Up Debt and Equity Deals

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Political fallout from Brazil’s ever-widening corruption scandals is weighing on the investment-banking business: Mergers and acquisitions are slowing down and issuers are speeding up stock and bond deals to avoid the impact of the 2018 presidential election.

“Election years can be volatile for markets and this coming year will be particularly so,” said Jose Olympio Pereira, chief executive officer for Credit Suisse Group AG in Brazil. “If I was an issuer, I would try to raise all the capital I could this year, as early as possible, and I would not leave anything to next year,” said Pereira, whose firm is the nation’s top-ranked M&A adviser in 2017, according to data compiled by Bloomberg.

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