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The vast majority of debt capital markets transactions during the month of April came from the power and energy sectors, accounting for four and three deals each. Combined offerings by power and energy companies were worth US$1.6 billion. The banking and finance and social infrastructure sectors also accounted for three deals each.

The highest value debt tap came from mining company Vale, which raised US$2.2 billion. It comes off the back of changes Vale made to its corporate governance structure in 2017, designed to make the company more attractive to investors by improving transparency.

The second largest issuance came from electricity generator Celse, which raised US$970 million.

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