November 19, 2019
Braskem Idesa, a joint venture between Brazil's Braskem and Mexico's Grupo Idesa, plans to issue bonds to refinance debt, according to a report from S&P Global.
The petrochemical company, which operates a polyethylene plant in Veracruz, could sell up to $1 billion in new notes, the rating agency said.
S&P gave the upcoming notes a BB- rating, adding that it expects business to improve for Braskem Idesa.
The company makes just one product, however, which limits its prospects for growth a
Mexican petrochemical joint venture could issue up to $1 bln in new notes to refinance debt