Flexed Odebrecht Loan Gains Momentum

Flexed Odebrecht Loan Gains Momentum

Loans

Brazil’s Odebrecht has flexed by 40bp the pricing on a $850m 10-year drillship project loan to Libor plus 340bp, stepping up to 415bp through the final year, say bankers. The move has helped spur commitments to the facility, say executives involved, who expect closure within 2 weeks. Most of the banks eyeing participation demanded a higher margin than the Libor plus 300bp-375bp originally offered. An executive involved in the deal says 3 banks – presumably the leads Santander, BNP and SocGen – h

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