Demand Swells for Caixa
Brazil’s Caixa Economica Federal (CEF) drew $5.5bn in orders for its second-ever international bond sale, allowing the government-backed lender to upsize to $1.25bn. The Baa2/BBB bank priced the 2018 at 99.333 with a 4.500% coupon to yield 4.651%, or UST+325bp, in line with 325bp-area guidance that followed mid-300bp talk, according to people following the sale. The bonds traded flat to up 0.20 points in the grey market....
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