Published on 9/8/2023 in the Prospect News Emerging Markets Daily.
New Issue: Braskem Netherlands Finance prices $850 million 8½% notes due 2031
By Marisa Wong and Cristal Cody
Los Angeles, Sept. 8 – Braskem Netherlands Finance BV priced $850 million of 8½% notes due Jan. 12, 2031 at a spread of 440 basis points over Treasuries, according to a market source.
Initial price talk was in the 9% area.
Citi, Credit Agricole CIB, Itau, Morgan Stanley, Santander, SMBC, ING and Mizuho were the bookrunners.
The issuer is a Netherlands-based subsidiary of Braskem, a Sao Paulo, Brazil-based petrochemical company.
Issuer: | Braskem Netherlands Finance BV
|
Amount: | $850 million
|
Issue: | Notes
|
Maturity: | Jan. 12, 2031
|
Bookrunners: | Citi, Credit Agricole CIB, Itau, Morgan Stanley, Santander, SMBC, ING and Mizuho
|
Coupon: | 8½%
|
Price: | Par
|
Yield: | 8½%
|
Spread: | Treasuries plus 440 bps
|
Pricing date: | Sept. 7
|
Initial talk: | 9% area
|
|
© 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.