With a backdrop smeared by an energy crisis, political elections and a hard hit from the Argentine contagion, Banco do Brasil is still expected to come to market with the first financial future flow transaction, as early as next week.

The long-awaited $250 million fixed-rate worker-remittance deal is being led by Merrill Lynch. Nikkei Remittance Trust has been established in Banco Central do Brasil in Japan.

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