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Tiete Infra Debenture Lands at Wide End

Jun 21, 2013

Brazil’s Rodovias do Tiete has priced a BRL1.07bn ($473m) infrastructure debenture sale at the wide end of its expected price range, according to investors following the process. The road operator’s inflation-linked 2028 bond is paying 8.0%, at the ceiling of the 5.5%-8.0% target range. It was not immediately clear how much, if...

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

Jan Dehn, Ashmore Investment Management