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CORPORATE LIABILITY MANAGEMENT - Making the Grade

Jan 19, 2012

Braskem

Capitalizing on an upgrade to iCapitalizing on an upgrade to investment grade by Standard & Poor’s and Moody’s and favorable market conditions, petrochemicals company Braskem successfully replaced expensive notes due 2014, 2015, and 2017. Following the operation, Braskem walked away with a newly issued $750 million 10-year bond, and a much improved debt amortization schedule. “We eliminated previous references with competitive ones and paid a very low premium at...

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At a fundamental level, the issue is how to generate healthy returns in the medium to long term. Policy holders can see their fund go down over the course of a week or a month, but what we really should be looking at is returns over 20 or 30 years.

Daniel Schydlowsky, Peru’s banking, insurance and private pension fund regulator


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