September 13, 2017 |
Brazil's Klabin has raised $500m from the sale of a 10-year green bond with a yield below 5%, sources told LatinFinance.
The bookrunners Bank of America-Merrill Lynch, Citi, Itau BBA, Morgan Stanley and Santander started the initial price talk in the 5.375% area but found little room to tighten the yield much below 5% at guidance. The leads priced the bonds at 99.414 with a 4.875% coupon to yield 4.95%.
Samuel Bevan, a credit research analyst at Aberdeen Standard Investments, said Klabin could
Brazilian pulp and paper company raises $500m in 2027 green bonds with a yield below 5%