CORPORATE LIABILITY MANAGEMENT: Odebrecht $550m/BRL500m tender and new issue
The Brazilian corporate’s tender offer and dual-currency new issue was well timed and executed
Brazilian construction firm Odebrecht spotted an opportunity
to cut its funding costs in the second quarter — and
leapt on it. Hindsight showed the operation could scarcely have
been better timed. The triple-B rated borrower picked up on a
fleeting moment of global investor demand for bonds denominated
in Brazilian reais in early April. In a snappy execution led by
BTG Pactual, Crédit...
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