Minerva makes perp debut

Minerva makes perp debut

Brazilian food producer Minerva sold a $300m 8.75% perpetual instrument on Thursday, a deal that could encourage other companies to tap the perpetual-bond sector. The transaction was almost four times oversubscribed, which allowed Bank of America Merrill Lynch, HSBC and Itau to tighten the deal to 8.75%, from 9% area guidance on Wednesday, sources said. “It was a reopening of the perpetual market at the end of the day, so it positively surprised everybody. Hopefully it opens up a window. I think

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