Odebrecht Reopens Market for Brazil Corporates (1)

Odebrecht Reopens Market for Brazil Corporates (1)


Odebrecht has reopened the dollar bond market for Brazilian corporate issuers, raising $1.69bn after seeing $3.5bn in demand. Against a backdrop of continued EM bond outflows, a shift in US Treasuries and more bearish Brazil sentiment, Odebrecht generated sufficient Asian and Europen interest overnight before pricing the 2022 drillship securitization at 99.994 with a 6.75% coupon to yield 6.75%, in line with 6.75% guidance and earlier high-6% initial price thoughts. At least half of the $1.7bn w

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