By Aleesia Forni
Columbus, Ohio, April 27 - Braskem SA (Baa3/BBB-/BBB-) priced $500 million of 5 3/8% 10-year senior bonds at 99.809 to yield 5.4%, according to a syndicate source.
The yield was tighter than talk of 5 5/8%.
BB Securities, BTG Pactual, HSBC and JPMorgan were bookrunners for the Rule 144A and Regulation S deal.
Proceeds will be used to prepay existing debt and for general corporate purposes.
Braskem is a petrochemicals company based in Sao Paulo, Brazil.
| Issuer: | Braskem SA
|
| Issue: | Senior notes
|
| Amount: | $500 million
|
| Maturity: | May 2, 2022
|
| Bookrunners: | BTG Pactual, HSBC, BB Securities, JPMorgan
|
| Coupon: | 5 3/8%
|
| Price: | 99.809
|
| Yield: | 5.4%
|
| Distribution: | Regulation S, Rule 144A
|
| Trade date: | April 26
|
| Settlement date: | May 2
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB-
|
| Fitch: BBB-
|
| Price talk: | 5 5/8%
|
© 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.
