Minerva taps deep demand for 2023

Minerva taps deep demand for 2023


Brazilian food company Minerva was heard to attract some $1bn of orders when it added $200m to its 7.75% $850m 2023 non-call 2018 bond on Wednesday. The borrower had planned to issue $100m and price talk was heard to start at a cash price of 104. But the strong demand allowed the bookrunners to tighten the price to 105.5, and prompted them to increase the size, a source said. Bank of America-Merrill Lynch, BTG Pactual, HSBC, Itau BBA and Santander led the deal. A scarcity of transactions in the

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