Bank of America Merrill Lynch and Citigroup have landed roles on what is set to be the third-largest Brazilian equity capital markets deal on record, having already been named as global co-ordinators on what is set to the largest deal ever, in a country that has offered a rare bright spot for ECM bankers in the first half.

Banco do Brazil priced its $4.9bn (€3.9bn) follow-on issue on June 30, via Banco do Brazil , Bank of America Merrill Lynch, BTG Pactual, Citigroup and JP Morgan. The deal is the largest Brazilian deal to price this year, and the third-largest ECM deal on record, according to Dealogic.