Brazilian Drillship Preps Bond

Brazilian Drillship Preps Bond

Brazil Bonds

Brazil’s Schahin Engenharia is preparing to turn to the bond market to refinance $270m in debt through a 2016 issue, according to Fitch, which rates the deal BBB. A source at the issuer says the deal via Nomura will price this week. The transaction is to be done through the Lancer Finance Company SPV, based on the payment flow related to the contract signed between Lancer, operated by Schahin, and Petrobras in August 2009 for the use of the SC Lancer dynamic positioning drillship until August 20

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