Braskem JV trades up as investors spy value

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By Oliver West
28 Nov 2019

Bonds issued by Mexican polyethylene producer Braskem Idesa were heavily bid on the break as investors said that the deal had been priced at a very attractive level versus comparable securities.

Braskem Idesa — a joint venture between Brazilian petrochemicals giant Braskem, which owns 75%, and Mexican industrial group Idesa — sold $900m of 10 year non-call five notes on Monday in its debut bond issue. 

After being re-offered at 99.659 to yield 7.5%, the 7.45% November 2029 notes were ...

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