Americanas Crash Halts Several Brazil Corporate Bond Sales (1)

The turmoil in Brazil’s credit market has put several local bond sales on hold as banks and investors become more cautious with corporate borrowers in the aftermath of the sudden collapse of Americanas SA.

Power company Coelba, a unit of Neoenergia SA, has pulled a planned debt sale after underwriters tapped the so-called “market flex” clause that allows for changes in conditions, according to people familiar with the matter. The firm had announced an issuance of 1.5 billion reais ($290 million) in local notes on Jan. 9, just days before Americanas roiled markets by unveiling a $3.9 billion ...