Rede D'Or tightens cross-border debut

Rede D'Or tightens cross-border debut

Bonds Debt Capital Markets Fixed Income Brazil

Rede D'Or Sao Luiz became the latest Brazilian credit to raise debt this week, with a $500m 2028 bond sale on Thursday. Bank of America Merrill Lynch, Bradesco, BTG Pactual, Itau BBA and JPMorgan started initial price talk in the low-to-mid 5% area, before tightening yield to 5% area at guidance. Orders peaked at $3.75bn throughout the day, prompting the banks to price the trade at par to yield 4.95%, DCM sources confirmed. Comparables included Ultrapar's 5.5% 2026 notes, which were spotted at a

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