June 28, 2013
A large and familiar borrower in the debt capital markets, Odebrecht still has a knack for impressing with smoothly executed trades. One such stand-out came in June 2012, when the construction firm raised $1 billion in 10-year and 30-year paper.
Investors lapped up the long bonds. The paper quickly rallied from the 7.25% reoffer yield, encouraging the builder to tap them soon after. It added $450 million of 30 year debt at a 5.95% yield in October. Odebrecht used the proceeds of the reopening to buy back an equivalent amount of eight-year and 11-year notes yielding 7% and 6%, respectively.
A number of companies were in contention for Brazilian corporate with the best capital markets stra
Odebrecht has demonstrated its agility across the capital markets, slashing its funding costs along the way