Odebrecht Preps Dollar and Real Debt For LM

Odebrecht Preps Dollar and Real Debt For LM

Brazil Bonds

Odebrecht is out with initial price thoughts of 4.625% for a new 2025 dollar bond and 8.5% for a 2018 BRL-denominated bond scheduled to price today. The borrower has also launched a liability management exercise to take out 2020 and 2023 notes. Odebrecht Finance is offering to buy back any and all of its $118.6m 7% 2020 senior note and its $729m 6% 2023 note. It will buy back the 2020 at 116 cents on the dollar. It is offering to repurchase the 2023 at 116.75, including a 3 cent consent payment

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