BNDES Heard Eyeing CHF250m 5-Year

BNDES Heard Eyeing CHF250m 5-Year

Bonds Structured Finance Brazil

Brazilian development bank BNDES is considering a CHF250m ($296m) 5-year bond after meeting Swiss accounts last week, says an investor following the process. Timing has yet to be determined; but the borrower is expected to announce more details as soon as this week if market conditions are benign enough. The credit’s quasi-sovereign status will no doubt be a plus in the Swiss franc market after Moody’s upgraded the Brazilian sovereign Monday to Baa2 from Baa3. “Investors’ res

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