Brazil’s Odebrecht clinches fine return but pays up

By Steven Gilmore
01 Aug 2013

Odebrecht, the oil and gas and infrastructure company, attracted a book of $3.5bn before pricing its $1.69bn senior-secured bond on July 26 in the first Brazilian corporate deal since BRF Brasil Foods visited the market on May 15.

Bankers said the bond was a positive step in the rehabilitation of the LatAm, and particularly Brazilian, new issue markets, though the borrower paid for just missing the end of the EM bull market that came to a brutal halt in May.

Bankers away from the deal said ...

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