BRF Adds BRL to Bond Sale

May 16, 2013

Brasil Foods (BRF) has priced $750bn in new bonds, opting to add a 2018 BRL-denominated tranche to an expected 2023 USD portion. Investors put in for more than $4bn in orders, and reported little concession on the 2023 and a pickup on the 2018. The Baa3/BBB minus/BBB minus food products company priced...

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

Jan Dehn, Ashmore Investment Management