Brazil’s Braskem exercises make-whole call for remaining 3˝% notes

By William Gullotti

Buffalo, N.Y., June 24 – Braskem Netherlands Finance BV issued a redemption notice for all of its outstanding 3˝% notes due 2023 (Cusips: 10554TAA3, N15516AA0), according to announcements on Friday.

The make-whole call will take place June 30 at the greater of the make-whole price calculated using Treasuries plus 50 basis points and par, plus accrued interest to the redemption date.

Bank of New York Mellon is the paying agent.

Braskem is a Sao Paulo-based petrochemical company.

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