Odebrecht Tender Gets Strong Response

Odebrecht Tender Gets Strong Response

Brazil Bonds

Holders of $379m of Odebrecht’s 2020 bonds and $428m of its 2023 bonds have accepted a cash tender offer, the construction company says, exceeding a combined $450m limit. Accepting creditors get $1,712.50 per $1,000.00 principal of the 2020 bonds, in an offer that expired Wednesday. For the 2023s, holders receive $1,190.00 per $1,000.00 principal of the 2023 prior to Wednesday’s early deadline, and $1,160.00 after, until a November 19 final deadline. There were $800m outstanding in the 7.0% 2020

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