Minas Clinches International Debt

Mar 25, 2013

An entity linked to the state of Minas Gerais has priced $1.27bn in new 2028 pass-through notes, giving international investors scarce access to Brazilian state-level debt. The issuer got $3bn in orders for the securities backed by interest payments on a loan – a structure seen as replicable by other states. The BBB/Baa3 notes...

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