Braskem closes tender offer

Braskem closes tender offer

Bonds

Braskem has bought back $223m worth of bonds in three tranches, in its second liability management effort this year to lengthen its debt maturity profile. The petrochemical company’s 7% 2020 bond met the strongest interest in the buyback offer, which the borrower capped at a $250m spend across the three tranches. The company will buy back 15.74% — $12.7m — of its 8% 2017 bond, 14.51% — $25.8m — of its 7.25% 2018 bond, and $184.1m of the 2020. Braskem gave priority to the 2017 and 2018 bonds. Ove

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