Braskem Idesa offers generous concession for PF refi

Braskem Idesa, Braskem, ethane, Pemex, Veracruz, Mexico, LatAm, Brazil
By Oliver West
26 Nov 2019

Mexican polyethylene producer Braskem Idesa clinched a debut bond issue on Monday, as potential positive credit triggers and highly attractive pricing outweighed doubts regarding a supply contract with Pemex.

Braskem Idesa is a joint venture between Brazilian petrochemicals giant Braskem, which holds 75%, and Mexican industrial group Idesa, which has the remaining 25%.

It was looking to sell bonds this week to allow it to refinance a portion of its $2.6bn project finance debt. 

Bookrunners Citi, Santander ...

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