CNO Eyes LM, Though Top Conditions May be Peaking: CFO

CNO Eyes LM, Though Top Conditions May be Peaking: CFO

Brazil Bonds

Construtora Norberto Odebrecht (CNO) is looking at opportunities for liability management exercises to lower funding costs and extend tenors this year, but its CFO says the days of cheap debt may be ending. CNO plans to keep its gross debt at 2.5x Ebitda, which means the company is unlikely to issue fresh debt without retiring old paper at the same time, Jayme Fonseca tells LatinFinance. "This is the aim for 2013," the official says. "Whenever we have an opportunity to issue less expensive debt

Already have an account?

Free trial

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

Free Trial