Globo funds buyback with new notes

Globo funds buyback with new notes

Asset Management Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Funds Brazil US

Brazilian media group Globo Comunicação e Participações sold $500 million worth of 2030 bonds on Thursday, raising money to buy back up to $300 million in 4.875% 2022 bonds, source told LatinFinance. The Rio de Janeiro-based conglomerate priced the new notes at par to yield 4.875%, the same yield on the notes in the buyback, said a source involved in the deal. Globo opened the initial price talk for the new notes in the mid-5% area and put the guidance at 5%, give or take 12.5 basis points. It t

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