Braskem lines up new notes to go with buyback

Braskem lines up new notes to go with buyback

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Brazil

Brazil's Braskem is planning to issue new notes to fund the buyback of up to $2bn in bonds that mature in 2021, 2022 and 2023.The São Paulo-based petrochemical company has hired Citi, Itaú BBA, Morgan Stanley and Santander to arrange meetings with investors from October 24 to October 28, according to press reports.The same banks are the dealer managers on the buyback. Braskem has offered to pay premiums from $17.50 to $61.25 for every $1,000 in principal in 5.75% 2021 notes, 5.375% 2022 notes an

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