July 21, 2020 |
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
Brazilian petrochemical company issues dollar-denominated hybrid bonds in an oversubscribed deal