Corporate Latin America’s rush to lock in low interest rates via perpetual bond issues — often refinancing more expensive older undated debt at the same time — could be close to ending after the sector showed signs of saturation.
This weeks $450m sale by Brazilian petrochemicals firm Braskem followed compatriot steelmaker Companhia Siderurgica Nacional (CSN)s deal two weeks ago in widening in secondary trading. Braskem priced its perp on Monday though lead managers HSBC, Itau and Deutsche Bank. The 7.375% bond has widened by around 20bp, according
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org
Or sign up for a trial to gain full access to the entire site for a limited period.
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: email@example.com or find out more online here.