Brazil's Odebrecht tenders for 11½% notes due 2009

By Jennifer Chiou

New York, Sept. 15 - Construtora Norberto Odebrecht SA announced the start of a tender offer for its 11½% notes due 2009.

The Sao Paulo, Brazil, engineering and construction firm said it will determine its payout using the yield to maturity of the 4.75% Treasury due Feb. 28, 2009 and a fixed spread of 45 basis points.

Those who tender by the consent deadline will receive the $5.00 per $1,000 principal amount consent payment.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.