Brazilians make buyback hay while sun shines
Liability management transactions from BRF Brasil Foods and Fibria Celulose have brought the number of Brazilian companies to issue new bonds to finance tender offers for existing paper up to six in 2014 as borrowers rush to take advantage of low rates.
‘Brazilian issuers are ahead of the curve compared to other issuers in the region when it comes to liability management,” said one bond syndicate banker. “They are perhaps slightly more cautious than other issuers in LatAm.”
Food conglomerate BRF Brasil Foods announced a tender offer for outstanding debt ...Already a subscriber? Login