Odebrecht raises $500m in liability management deal
Brazilian conglomerate Odebrecht issued a $500m 12 year bond on Friday, with proceeds to be used in a liability management exercise. The company has offered to buy back $500m worth of a combination of its $200m 9.625% 2014s, its $400m 7.5% 2017s and its $500m 7% 2020s for cash in order to extend its debt maturity profile.
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