Braskem places US$200m of five-year bonds at 12.75%
Bnamericas Published: Friday, October 31, 2003
Brazilian petrochemicals giant Braskem placed US$200 million of five-year bonds at a 12.75% yield, a company spokesman said Friday. The offer was upsized from US$150 million originally. The papers, which mature Nov 5, 2008, are part of Braskem's middle-term notes program. Credit Suisse First Boston managed the deal. Braskem is rated B+ by Standard & Poor's. Based in the northeastern state of Bahia, Braskem - formerly known as Copene - is Brazil's main producer of ethylene and the leading supplier of petroleum derivatives used in toys, automobiles and household appliances. by Silvia Fregoni
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