Tupy hits market for $350m

Tupy hits market for $350m

Bonds

Brazilian autopart maker Tupy priced a 6.625% $350m 2024 bond at par on Thursday, tightening the price from guidance of 7% area. BB Securities, Bradesco, Citi and Morgan Stanley managed the deal, which followed a three-day roadshow that ended on Wednesday. The BB-/BB rated deal coincided with Brazil’s InterCement, which raised $750m on Thursday. “It’s been a busy week, and it continues to be a busy week … But Tupy’s was a smaller deal, easier to manage. There’s been so much lately that I think i

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