A large and familiar borrower in the debt capital markets,
Odebrecht still has a knack for impressing with smoothly
executed trades. One such stand-out came in June 2012, when the
construction firm raised $1 billion in 10-year and 30-year
Best Corporates: Building trust
Odebrecht has demonstrated its agility across the capital markets, slashing its funding costs along the way
Investors lapped up the long bonds. The paper quickly
rallied from the 7.25% reoffer yield, encouraging the builder
to tap them soon after. It added $450 million of 30 year debt
at a 5.95% yield in October. Odebrecht used the proceeds of the
reopening to buy back an equivalent amount of eight-year and
11-year notes yielding 7% and 6%, respectively.
A number of companies were in contention for Brazilian
corporate with the best capital markets strategy, with many
having demonstrated exemplary use...
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