July 24, 2020 |
Brazil's InterCement said Thursday that it had called off the proposed swap of its 5.75% 2024 for newly issued 2027 notes after conditions for the exchange were not "satisfied."
The offer expired on Wednesday after the São Paulo-based cement company had previously extended the deadline from July 9. Morgan Stanley, Banco do Brasil, Bradesco BBI and Itaú BBA were the dealer managers on the exchange.
InterCement said it sought constructive dialogue with bondholders since it proposed the bond swap o
Brazilian cement company says the conditions were not met to exchange 2024 notes for new 2027s