BRF Adds BRL to Bond Sale

BRF Adds BRL to Bond Sale

Brazil Bonds

Brasil Foods (BRF) has priced $750bn in new bonds, opting to add a 2018 BRL-denominated tranche to an expected 2023 USD portion. Investors put in for more than $4bn in orders, and reported little concession on the 2023 and a pickup on the 2018. The Baa3/BBB minus/BBB minus food products company priced a $500m 2023 tranche at 98.497 with a 3.950% coupon to yield 4.135%, or UST+220bp, at the tight end of UST+225bp-area guidance and earlier 237.5bp talk. A BRL500m ($248m) 2018 priced at par with a

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