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BRF raises US$ 500 million, with a 6% yield

Brasil Foods has raised US$ 500 million through the issuance of ten year bonds abroad. This was the first such operation by a Brazilian company on the international market for over a month.

The yield is 6% per year. This is a spread of approximately 0.2% over the shares traded on the secondary market - an indicator known as the new issue premium. Thus, the risk premium was below recent emissions by US companies with the same risk grade.

The operation, which was led by HSBC, BB Securities, Itaú BBA and Santander, was 3.5 times oversubscribed. "The success of this operation reopens the international market for Brazilian issuers and confirms demand from investors for sustainable high quality bonds, even with increased global risk aversion," said Alexei Remizov, a director at HSBC.

Information provided by Valor Economico



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