Brazilian Reopens Perp Market

Apr 19, 2013

Brazilian construction firm OAS has raised $500m in perpetual NC5 bonds, seeing $5.5bn demand in LatAm’s first corporate perp sale of the year. The B1/BB minus/B+ transaction priced at par with an 8.875% coupon, to yield in line with 8.875% -area guidance that followed mid-9% initial price thoughts. With few appropriate or recent high-yield perp deals to comp against, leads were heard pinning...

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


Already have an account?

Subscribe

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

Subscribe

Free trial

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

Free Trial



LatinFinance Events

Poll

Are populist governments like Venezuela & Argentina turning pragmatic?

Vote    




“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management