Braskem places $600 mln in long-term notes

Braskem places $600 mln in long-term notes

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Brazil

Brazilian petrochemical company Braskem sold on Monday $600 million worth of 60.5-year non-call five bonds in a deal that was about two times oversubscribed, a source involved in the transaction told LatinFinance. Braskem opened initial price talk in the high-8% area before it set guidance at 8.5% and launched the deal at the same rate. It ended up pricing the new 2081 notes priced at par to yield 8.5%, or 822 basis points over US Treasury bonds, the source said. BNP Paribas, Morgan Stanley and

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