Odebrecht Taps Long Bonds for LM
Brazil’s Odebrecht is set to replace shorter debt with cheaper 30-year money, having reopened its 2042 bonds for $450m. The Baa3/BBB minus sale takes the outstanding size to $850m and will fund a tender offer for 2020 and 2023 bonds. The builder reopened the 7.125% coupon bonds at 116.266 to yield 5.95%, at the...
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