Cruzeiro Buyback Fails To Meet Target

Aug 30, 2012

The credit guarantee fund administering a tender for Brazil’s Banco Cruzeiro do Sul has failed to reach the minimum 90% acceptance level for a $1.58bn bond buyback on behalf of the troubled lender, it says. According to a source familiar with the process, Fundo Garantidor de Credito (FGC) received consent from 75% of bondholders of its 2015 and 2016 notes, paying 8.500% and 8.250%...

To continue reading please take a free trial, subscribe or login below.

Already have an account?


Subscribe now for unlimited access to all current and archive news, data and market analysis. 


Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial

LatinFinance Events


Which area will be most profitable for investment banks in LatAm in 2016?