Votorantim unit sells $400m bond, closes tender

Votorantim unit sells $400m bond, closes tender

Bonds

Companhia Brasileira de Aluminio, a wholly-owned subsidiary of Votorantim, rode strong demand from investors to sell a 4.75% $400m 2024 bond on Wednesday. The bond was sold at 225bp over US Treasuries, below initial price guidance of 237.5bp to 250bp and guidance of 230bp area. “The new issue market is extremely hot — there is no other way to put it. Everything has gone very well, and this has not been any different,” a source said, adding that there was a lot of interest from investors and that

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