Minas Clinches International Debt

Minas Clinches International Debt

Brazil Bonds Loans

An entity linked to the state of Minas Gerais has priced $1.27bn in new 2028 pass-through notes, giving international investors scarce access to Brazilian state-level debt. The issuer got $3bn in orders for the securities backed by interest payments on a loan – a structure seen as replicable by other states. The BBB/Baa3 notes priced at 109.18 with a 5.333% coupon to yield 4.216%, or UST+230bp, at the tight end of 230bp-240bp guidance that followed 250bp-area initial talk. “We got a premium over

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial