Braskem Eyes Fixed Rate Swap for Facility

Braskem Eyes Fixed Rate Swap for Facility

Loans

Caros Fadigas, Braskem’s CFO says he’s looking at potentially swapping his $725m pre-export debt, which is priced over Libor, into fixed-rate. The facility was closed with a group of 19 banks last week at a rate of Libor plus 175bp, with fees ranging from 70bp-35bp depending on ticket sizes. “We’re very happy with our Libor plus 175bp price now, but if wee see the opportunity to lock in at what we think is a historically low rate, we will consider it,” Fadigas tells LatinFinance. He adds a fixed

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