Brazil's capital markets are surging, with new IPOs and follow-on equity offerings in 2021 extending the hot market from last year, the best in over a decade. Brazil is a bellwether for emerging markets globally. What is causing this flurry of activity, and how long will it last? In this episode of Law, Policy & Markets, São Paulo Global Capital Markets partners Fabiana Y. Sakai and Tobias Stirnberg speak with Milbank Global Project Energy & Infrastructure Finance partner Allan Marks about the state of the Brazilian market and what it means for domestic and international investors, for companies seeking to diversify capital sources, and for sustainability and ESG goals.

Fabiana Y. Sakai is a partner in the São Paulo office of Milbank. Her practice focuses on capital markets, finance and corporate matters, and her clients include Brazilian corporations and US and Brazilian banks and underwriting firms. She has extensive experience across a broad range of industries, including infrastructure, financial services, real estate, manufacturing and retail.

Tobias Stirnberg is a partner in Milbank's São Paulo office. He represents Brazilian and international companies, sponsors and lenders in their cross-border work, and he has extensive experience in finance, M&A and restructuring matters across a broad range of industries, including energy, infrastructure, transportation, financial services, metals and mining and industrials.

Podcast host Allan Marks is one of the world's leading project finance and corporate lawyers. He advises developers, investors, lenders, and underwriters around the world in the development and financing of complex infrastructure projects, as well as related acquisitions, restructurings and capital markets transactions. Mr. Marks also serves as an Adjunct Lecturer at the University of California, Berkeley at both the Law School and the Haas School of Business.

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