LATAM Corporates Daily: Your daily dose of all things LatAm

Research evidence excerpt

LATAM Corporates Daily: Your daily dose of all things LatAm

J P M O R G A N Latin America Credit Research

16 June 2026

LATAM Corporates Daily

Your daily dose of all things LatAm

Highlights Latin America Corporate Research

Natalia Corfield AC

• Raizen: IG4 proposal to aggregate creditor claims (1-212) 834-9150

natalia.corfield@jpmorgan.com

• World Cup in Focus: Draws everywhere; Vozinha stole the show J.P. Morgan Securities LLC

• Performance Alejandra Andrade

(1-212) 834-3220

Prices in this note are as of June 15, 2026. alejandra.andrade@jpmorgan.com

J.P. Morgan Securities LLC

Ian B Snyder

(1-212) 834-3798

Raizen: IG4 proposal to aggregate creditor claims ian.b.snyder@jpmchase.com

According to Valor International, IG4 has made a non-binding proposal to J.P. Morgan Securities LLC

purchase Raizen creditors’ claims, aiming to build a 50%+1 position that could Florencia Palacios

make it the controlling shareholder after the restructuring. The asset manager’s (1-212) 622-1129

stated goal is to help steer a more orderly restructuring process. With the equity florencia.x.palacios@jpmorgan.com

conversion expected within ~six months, that timeline effectively defines its

Bhavya Gupta

window to negotiate with creditors and accumulate the required stake. We view this

(91-22) 6157-3132

development as unexpected, particularly given the asset manager’s role in bhavya.x.gupta@jpmchase.com

Braskem’s process. J.P. Morgan India Private Limited

World Cup in Focus: Draws everywhere; Vozinha stole the show

Spain versus Cabo Verde was the biggest surprise so far. Led by goalkeeper

Vozinha, Cabo Verde withstood wave after wave of Spanish pressure, keeping a

clean sheet and securing a draw. Today, France, Senegal, Argentina, Algeria, Iraq,

and Norway begin their World Cup campaigns.