Marfrig finishes 2025 bond sale

Marfrig finishes 2025 bond sale

Debt Bonds Capital Markets Corporate & Sovereign Strategy Fixed Income Brazil

Marfrig continued Brazilian issuers' hot run of form, raising $1bn in 2025 bonds for a tender offer of 2018 and 2019 bonds, DCM sources confirmed. Banco do Brasil, Bradesco, BTG Pactual, HSBC, Nomura and Santander started price talk in the low-to-mid 7% area and then set guidance at 7.25%. The group then launched the trade at 7.125%, before pricing the 2025s with a 6.875% coupon to yield 7.125%, or a reoffer price of 98.641. Sources said orders had reached $2.6bn. Investors were fixed on Marfrig

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