Cielo buy-back gets sky-high response

Payment Card
By Oliver West
24 Jun 2019

Cielo, the largest merchant acquiring and payment processing company in Brazil, on Friday wrapped up a consent solicitation and bond buy-back for its global 2022s that will effectively split the note in two.

Before the exercise, Cielo’s only international bond was an 3.75% coupon $875m note maturing in 2022. In May, the company asked bondholders to allow the company to split the bond into two notes that would trade separately — one issued by Cielo SA, and another issued by Cielo ...

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