Rumo improvements keep bond investors on track

The CFO of Brazilian railroad operator Rumo told GlobalCapital that improvements in the company’s credit metrics allowed it to successfully issue in dollars on Wednesday, despite the issuer not guaranteeing the bonds with its main operating company as it had for its previous deal.

  • By Oliver West
  • 11 Jan 2018
BB-/BB- Rumo raised $500m of BB-/B+ rated seven year non-call four bonds on Wednesday, as bond buyers brushed off the fact that S&P had marked the new bonds one notch lower than the company’s first issuance in February. 

“Investors had questions about the fact we did not guarantee the ...

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