Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers B > Headlines for Brasil Telecom SA > News item |
Brasil Telecom non-deal roadshow starts Wednesday; trading on upside but light post-speech
By Paul A. Harris and Christine Van Dusen
Portland, Ore., Aug. 29 - Brasil Telecom S.A. (Baa2//BBB) will begin a series of meetings with fixed-income investors in Latin America, Europe and the United States on Wednesday, according to a market source, as RBC Capital Markets summed up the effect of end-of-week events on the top of the current week.
"EM assets have opened the trading week with a positive bias following chairman Bernanke's speech on Friday," according to the RBC report.
"Sentiment appears to have been supported by the chairman's assessment that U.S. economic conditions do not at the moment warrant additional stimulus and by his assurances that tools are available if such stimulus were required."
Trading was light, though, with a holiday in London and issues related to Hurricane Irene in the United States.
In deal-related news, Brazil's Caixa Economica Federal was mulling an issue of notes. No other details were immediately available on Monday. Also from Brazil, electrical company Transmissora do Atlantico de Energia Electrica (Taesa) was considering an R1.3 billion global bond offering. Issuance is likely before the end of the year.
The Brasil Telecom meetings are being arranged by Bank of America Merrill Lynch, Citigroup, Deutsche Bank, Itau BBA and Morgan Stanley.
The non-deal roadshow is set to wrap up with meetings in New York and Boston on Sept. 7.
Brasil Telcom is a subsidiary of Telemar Norte Leste SA (Baa2/BBB-/BBB).
© 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.