OAS Pops up for Retap

OAS Pops up for Retap

Brazil Bonds

Brazil’s OAS has retapped its 2019 bonds to raise $375m, according to people following the transaction. The builder and concessionaire’s 8.250% bonds reopened at 99.250, to yield 8.412%. The price compares to 101.50 secondary levels seen prior to the sale. While some recent high-yield transactions have postponed, OAS decided to test the market and amid a view interest rates will rise and raise funds sooner than later. The Brazilian engineering and heavy construction firm plans to use proceeds fo

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