Falabella became Chile's first corporate borrower to sell a
global peso transaction in late April, adding a $200
million-equivalent tranche to a $500 million dollar bond. The
triple-B rated borrower paid a reoffer yield of 6.5% on the
peso tranche and 3.861% for the dollars. The deal came amid a
busy March and April for Latin America's debt markets, and
followed a handful of global real transactions. Cosan raised
$750 million in a dual currency deal in early March. Investors
placed $9 billion in orders for the debt from the energy and
infrastructure company. It sold a 500 million real ($252
million) 2018 tranche to yield 9.625%, alongside the initially
planned $500m 2023 tranche, which is callable in 2018 and was
priced to yield 5.15%. "Conditions are ripe for Brazilian
corporates to issue in reais," Cosan chief executive Marcos
Lutz told LatinFinance. Banco ABC...
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