Brazil ammo bond shows US HY still there for LatAm

Although Brazilian ammunition maker CBC Ammo was caught issuing its debut bond on a day of rocketing US Treasury yields bankers used the deals as evidence that the US high yield investor base was still there for LatAm credits.

  • By Oliver West
  • 15 Nov 2013

B1/BB- rated CBC became the latest Latin American borrower to be hit by better than expected economic data from the US on Friday November 8, when it had to widen pricing from guidance to sell a $250m debut bond.

CBC priced its 2021 non call four bond ...

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