Unigel prices revised bond in line with IPTs

Unigel prices revised bond in line with IPTs

Capital Markets Debt Bonds Brazil

Unigel settled for a $200m 10.5% 2023 non-call three bond sale on Tuesday, pricing the paper in line with initial price talk (IPT) leads had set on Monday afternoon. The Brazilian petrochemicals firm braved choppy market conditions and had little choice but to offer the bonds at 10.5%, or 99.934, after IPTs were set at 10% area, DCM sources confirmed. Monday's IPTs came with a 2024 maturity, but two DCM sources confirmed Tuesday's final sale came with a five-year tenor. When contacted by Lati

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