The largest Brazilian issuer is set to launch a recovery fund offering exposure to a Brazilian company facing a debt crisis which has led to substantial losses on structured notes.
XP Investimentos (XP) is reading to roll out a fund that reinvests in discounted bonds issued by São Paulo-based waste management firm Ambipar which has been on the brink of bankruptcy for the past three weeks. The offering, called Recovery AMB FIM IE RL, is aimed at investors who have a view that the company might recover and allow them to recoup part of their losses from Ambipar-linked structured notes, locally referred to as structured transaction certificates (COEs), earlier iss