OAS tap brings Brazil back

By Francesca Young
17 Oct 2013

Construction company OAS tapped its 2019 senior unsecured notes for $375m on Thursday — more than it expected — proving that the market for Brazilian credits remained open, if selective, said bankers.

B1/BB-/B+ rated OAS attracted $1.85bn as it re-opened its 2019 8.25% bonds at 99.25 to yield 8.412. The borrower had initially planned to raise $350m. The bond now totals $875m.

The existing notes — originally issued at par in October 2012 — were trading at 101.25 before the ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.