Braskem JV trades up as investors spy value

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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