Creating and distributing additional copies is prohibited without the permission of the publisher. Contact subscriptions@latinfinance.com.

Best Corporates: Building trust

Jun 28, 2013

Odebrecht has demonstrated its agility across the capital markets, slashing its funding costs along the way

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 paper.

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...

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

Will ABS become more interesting for LatAm borrowers as US monetary policy normalizes?

Vote    





Printing isn't available for this page.