Brazilian Clinches HY Bond
Following a brief shutdown in the cross-border bond market last week, Usina Sao Joao Acucar e Alcool (USJ) has emerged, generating a $870m-plus book on a $275m 2019 NC4 bond. The Brazilian debut high-yield issuer priced at 98.768 with a 9.875% coupon to yield 10.125%, at the tight end of 10.375% guidance and mid-10% area...
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