Tonon Bioenergia - Updated

Tonon Bioenergia - Updated

Bonds

Brazilian sugarcane processor Tonon Bioenergia issued initial price thoughts for a $230m 2019 bond but did not follow through with a transaction on Thursday, LatinFinance understands. Lead manager Morgan Stanley and HSBC passive bookrunner were heard to have indicated initial price thoughts of 11% area for the bond. The deal was heard to have four tranches. There was little clarity on Wednesday as to why the deal was not closed. One source suggested an anchor order may have fallen through.

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