Investors Keen on Wider Aralco Price

Investors Keen on Wider Aralco Price

Brazil Bonds

Brazil’s Aralco has sold a $250m cross-border bond after reviving the issue at more attractive pricing. The B/B sugar and ethanol producer priced the 2020 NC3 at 99.386 with a 10.125% coupon to yield 10.25%, in line with 10.25%-area guidance. The transaction was heard getting just above the offering size in demand, and the deal was trading around reoffer late Tuesday, according to investors. The level was widened from the 9.5%-area the issuer sought during a tough week in mid-April. Aralco also

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