January 11, 2018 |
Brazil’s Rumo inked its second cross-border issuance in less than a year, raising $500m in 2025 non-call four notes, DCM sources confirmed.
Bank of America Merrill Lynch, BB Securities, Bradesco, Itau BBA and Santander started price talk in the low-to-mid 6% area, before tightening yield to 6.125% at guidance.
Leads priced the transaction with a 5.875% coupon to yield 6%, or a reoffer price of 99.294, one DCM banker on the transaction said.
Investors weighed Rumo's high leverage levels and the s
Rail and freight company prints $500m, opening what is a jam-packed window for Brazilian credits