Braskem Gives a Little on $750m Bond

Braskem Gives a Little on $750m Bond

Bonds Economy & Policy

Braskem has priced $750m in 2021 bonds at 98.14 with a 5.75% coupon to yield 6.00%, or UST plus 243bp, at the tight end of 6.000%-6.125% guidance. Braskem is funding a tender offer for shorter, more expensive bonds. Capitalizing on its recent promotion to investment grade by S&P, the petrochemicals producer was heard getting more than $2.5bn in orders for the Baa3/BBB minus/BB+ bond, with a yield that pleased investors. “They left a little bit on the table this time,” says a New York-based EM in

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